Kalshi Prediction Market and CMS's 2027 Fee Schedule Overhaul
Key Takeaways
- CMS has proposed a sweeping 2027 physician fee schedule designed to accelerate Medicare's ongoing transition away from traditional fee-for-service toward value-based and preventive care models.
- Kalshi's new clinical trial prediction markets allow people to bet on FDA approvals, raising significant ethical questions and regulatory concerns for the healthcare industry.
- The American Heart Association recently gave coffee a notable heart health endorsement, offering a bit of good news for daily java drinkers.
- A recent outbreak of Legionnaires' disease was reported in Manhattan's Upper East Side, serving as a reminder of public health surveillance needs.
- Researchers published the first randomized controlled trial evaluating a ketogenic diet for severe mental illness, marking a step forward in metabolic psychiatry research.
Friday, July 24, 2026
In today's episode, Dr. Alok Patel (@alokpatelmd) & Eva Johnson cover CMS's sweeping 2027 physician fee schedule proposal, which would accelerate Medicare's shift from fee-for-service toward value-based, preventive care. They also unpack Kalshi's launch of clinical trial prediction markets; betting on FDA approvals is now a real thing, and the ethical questions are piling up. Coffee gets a heart health endorsement from the AHA, and an outbreak of Legionnaires' disease hits Manhattan's Upper East Side. Last, but far from least, we discuss the FDA's transparency whiplash on rejection letters, the first RCT of a ketogenic diet for severe mental illness, and more.
Coverage Timeline:
(00:00) Intro & Trivia Question
(01:17) Medicare Physician Payment Overhaul
(04:30) Prediction Markets for Clinical Trials
(07:12) Off the Clock: FDA, Coffee, Outbreak, Ketogenic Diet
(09:57) Trivia Answer
(11:07) Outro & Disclaimers
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Frequently Asked Questions
What is the CMS physician fee schedule proposal for 2027?
The proposed 2027 CMS physician fee schedule introduces sweeping changes aimed at accelerating Medicare's shift from traditional fee-for-service reimbursement toward value-based and preventive care.
How do clinical trial prediction markets on Kalshi work?
Kalshi has launched prediction markets that allow individuals to place financial bets on FDA drug approvals and clinical trial outcomes, sparking a complex debate around ethics and market speculation in medicine.
Is coffee considered heart-healthy by the AHA?
Yes, the American Heart Association recently issued a heart health endorsement for coffee, highlighting potential cardiovascular benefits for moderate drinkers.