>> next is "the willis report" >> hello. two nights on "the willis report", our special investigation on and medical cost we will take you inside the secret committee showing what you have to pay also getting the best deals on travel became easier. take the drama out of home renovation. how? >> start early and get the decisions made. >> we are watching out for you. tonight. "the willis report". gerri: our top story tonight

a user's guide to health care last week and cover the secret committee of doctors pay in america put out by the american medical association and is up -- the signs codes for every imaginable procedure imaginable purview have seen them and they set the price you and your insurance company have to pay but unlike every other part this code has not kept up with the times and that means it allows them to putted for a 50 hour day that stretches the imagination and here is the best part the federal government and i read the

prices the services pay are up to 50%. you say this may be part of the reason? >> it is a total racket. the ama conducts surveys and they never err on the side to say it is too little but it is so challenging we have to be reimbursed more. gerri: when we talked about this last week that makes no sense of all. give us the example. >> with the intensity of the work required and the time that it takes is the overhead costs so basically that is the incentive for higher reimbursement for procedures so you can remove the ingrown toenail to get paid more than spending half an hour to counsel a patient so incentivizes procedures

so that they can't code for more things. gerri: i don't know any other part of the american system colgate-palmolive does the city will just do this to see what the bears. why is medical pricing the same way? >> was developed by a harvard economist in the '80s and enacted by the reagan administration and the bush and administration tries to bring the medicare costs down. gerri: did it work? >> no. because people gave the system because one way they treat patients is to take gastroenterology, one of the biggest health problems is hepatitis. the doctors don't get paid for those patients so they

are doing colonoscopy is all day but not treating hepatitis that is a bigger problem. gerri: and they want a colonoscopy every 20 minutes a and they cost thousands dollars. dr. stott respond to the ama they said cpt codes is created to provide a common in greenwich that describes medical and surgical and diagnostic services provided by physicians and other health professionals. medical doctors and other professionals right to the cpt codes and experts provide input. does that really explain what is going on in? >> basically a the federal government punted to the of the ama how they would pay for those discrete services and they tried to cap but doctors were paid and then they said you fight over it

to figure how to carve it up. but they were never ordered so now that pot has contained more so medicare doesn't want to get involved so as a specialist has more in the process will overcompensate. gerri: this a blew me away not that the ama will cook up their prices by consulting with doctors but they also make many, a 72 million far more than from their dues of members basically a uncle sam said here is a monopoly you set the prices you make the money. >> there is a reason for that. >> because the ama used to be against socialized medicine when johnson tried

to get medicare and medicaid to congress he said we will let the doctors charge whatever they want then they won't impose medicare and that is why costs have gone up so that while a day went them to get mad. >> if there was a way to get medicare in place what is the biggest problem with the system? >> that doesn't value of physicians' services with of wrong kind of behavior to incentivize to right to long notes due justify the code because that is how you will be reimbursed and audited by medicare. >> doesn't this incentivizes doctors to increase prices?

at the end of the day it is one jack to the medical establishment to increase prices every single year. if you go to the ama doesn't that guaranteed escalating prices? >> but the price control is like at a dinner with 10 other people in the the check even the but every person has the incentive to order the most expensive thing because they will split the check equally so the doctors have the incentive to build because with the price controls thought they don't affect them directly. >> as a physician in a you know, what codes you can bill and which are the higher paying codes and doctors are condescend of

that and that drives the wrong kind of behavior for the services you will. ggrri: i think it is outrageous. e-mail us and get in touch with us. lettuce know where you think i think this is shocked the way the country does business. a great job as always. what do you think? should the ama decide how much you pay for medical procedures? we will share the results at the end of the show. we're just getting warmed up including a great way to improve the value of your home. half in the the rise of part-time workers in america will the 29 hour workweek become a permanent fixture in the economy? ♪ peace of mind ismporta when you're rning a successful business.

so we providit services you can rely on. with centurylink as your trusted it partner, you'll experience reliable uptime for the network and rvices you depend on.

multi-layered security solutions keep your information safe, and secure. and responsi dedicated support meets youreeds, and eases your mind. centurylink. your link to what's next. gerri: the new e merit -- american economy of

part-time workers the number of people working part-time because they cannot find full-time jobs has doubled since 2007 from 4 million net debt 8 million the question is is this a blip in the economy? >> evening the economy is adding part-time jobs in june alone the economy lost 1 million full-time jobs the economists are debating if this is a short-lived phenomenon some business executives argue the health care law is to blame requiring health coverage if they have 50 employees working at least 30 hours per week and ben bernanke said some businesses are saying they are hiring part-time workers over full-time to '04 a the obamacare mandate and to one survey shows business is planned on reducing full-time workers because of

obamacare in 20 percent said they will make no changes and two-thirds say they already offer health care to those working at least 30 hours per week and businesses are still trying to figure out their response to the health care law. >> looking at their data how might i be impacted by the eligibility? definitely they have quantified that into a dollar. it has been the top of my mind for many employers. >> some economists say that it is to blame they point to the sluggish job market and government furloughs' the@ white house denies the health care law will reduce hours said it will reduce subsidies to make health care more affordable.

gerri: which sectors does it hit the hardest? >> what we're hearing is it boils down to the retail folks in hospitality folks that they don't extend health coverage to there are many cases with that 30 our threshold. gerri: date you. now it is time for stories with the stock market closing a record high despite disappointing earnings. the s&p 500 rose to the record high ian the dow just missed it. a good day for the gold miners but netflix shares are falling after a blockbuster earnings they more than quadrupled thanks to the arrival lover "arrested development" and added 630 subscribers a less

than what was expected. the price of the pomp rising after the july 4th holiday weekend. the national average price it to jump to $0.20 at $3.67. hackers may have gained access to personal information of the developers to make the company's apple apps. this happen on thursday and customer information is supposed to be incorrect did. those of the hot stories on fox business.. leader, should you put your money elsewhere? our panel is here with advice and the answer the question how? the way you can take the job -- the drama about. it can be done. ♪ an be. [ crickets chirping ] but did you know that the lack of saliva can also lead to tooth decay and bad breath?

[ exhales deeply ] [ male announcer ] well there is biotene. specially formulated with moisturizers and lubricants, biotene can provide soothing relief and it helps keep your mouth healthy, too. [ applause ] biotene -- for people who suffer from dry mouth. i' got aice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer if you're eligible for medicare, you may know it only covers about 80% of yr part b medical expenses. the rest is up to you. call and find out about aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, it could save you thousands in out-of-pocket costs. ca now to request your free decision guide. i've been with my doctor for 12 years. now i know i'll be able to stick with him.

you'll be able to visit any doctor or hospital that accepts medicare patients. and you never need a referral. see why millions of people have already enrolled in the only medicare supplement insurance plans endorsed by aarp. don't wait. call now. ♪ ♪ ♪ [ male announcer ] if you can't stand the heat, get off the test track. get the mercedes-benz you've been buing for at the summer event, going on now at your authorized mercedes-benz dealer. but hurry, offers enduly 31st. >> one of the best things you can do to increase the

value of your home. renovation without the trauma. -- and drama

gerri: having a renovation doesn't just give you a place to live but increase the property's value and also a headache but our next guest says there are important steps to take the drama out. so we have the most of today's homeowner. dna, i just did this myself to renovate or master bath there is a dust all over my house weeks later. how do take out the drama? >> somebody that is really involved in remodeling as a profession should be an expert at dust containment the curtains with the zipper

obviously did not have those and that helps a lot and completely cleaning all the time mopping and beckoning from the number one does make a big difference. it will still sneaking its weight in but it can help a lot if you try to contain them right off the bat. gerri: but let me tell you we did have these curtain's up but to get around them was so inconvenient. when it you need to know when you hire that contractor? should you negotiate these kinds of things? >> absolutely ask them what there plan is are they have different ways to control that. drop cloths also if the window is conducive to open the windows to blow the dust out in any way that you can reverse the effects of this central air and heating system to pull it to the center could help but definitely ask your contractor what is his plan to contain the dust and.

gerri: what is your best advice? and how do you keep your time horizon and keep the bill lowe? >> all of the decisions can be one of the most stressful aspects make sure you start early and get the decisions made and to handle that early that is why the job takes longer but we are all a little optimistic in the contracting business a you have to temper that. gerri: anything i should do myself? is there some things that are better done by me? >> a lot of times people

will do some of the demolition themselves i knew a contractor right now the family and the four teenagers are doing the demolition to cut off of water in the power and they and taking care of the trash with dumpsters in cleaning each day and also with the finishing aspect if you feel up to painting in the finishing touches can save a significant amount of money but chartres -- smart shopping to drive down the cost. gerri: the prices have gone up dramatically what are some good swaps that can save me money? >> there is a lot of simulated looking granite countertops you don't have to go with granite and the plastics ltd. is unbelievable how realistic it looks. if it is not in the year and

tear b-s the look there is also simulated materials and do-it-yourself flooring easier than you can imagine. gerri: everyone thinks about renovation and will increase the value of your home? >> kitchen, the center of family life that is ery important but also outdoor living spaces have started a return on your investment as well with a nice comfortable living area that extends the living area to the outside is also well spent. anything view i'd like when you buy a home obviously a prospective buyer would like as well. gerri: i don't know why you could have done my master bath. thank you.

who has the better retirement plan? you or congress? you know, the answer and our all-star financial panel weighs sid with retired in vice and commodity at investments. coming up.it m

fed side effects include headache, flushing, upset stomach, and abnoal vision. to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. stop taking viagra and call your doctor right away, if you experience a sudden decrease or loss in vision or hearing. this is the age of taking action. viagra. talk to your doctor.

gerri: breaking news sold get these pictures a dramatic scene at the airport tonight. at la guardia the news of a southwest airlines reportedly collapsed on landing. thankfully there are no injuries it was coming in from daschle and now live or dead is closed for incoming flights the nose gear of the 737 reportedly collapsing of landing. no injuries reported at this time we will follow the story if we have updates we

will let you know, . are you feeling confident you will be able to retire? sova say we can never retire at this rate relying on social security will not be a possibility and it could go broke in five years dependinn on which study looked at we're all worried about retirement. baker eight.com analysis shows federal lawmakers enjoy benefits the note -- a rest of us could only dream about in addition to social security they're all entitled to a pension as long as they have been in office five years so house members have to serve three terms and senators of the one. fewer than 20 percent of workers qualify that is down from 80% of members of congress also get health benefits sova 5% covered by

taxpayers. just 25% of firms to offer benefits to all federal workers in general are enrolled in the thrift savings plan but it has the matching -- matching contributions of 5%. the average private sector of the matches 4% also i'd like the rest of us members of congress make the rules with their own retirement plan. that does not sound fair to rehire and joining me now with the super commodities super cycle is david. we'll come. really? could it congress feel i were paid a little more and

make better policy if they had the same benefits we have? >> i don't know if congress feels anything. but your last point congress makes their own rules at&t in the game anyway they want there is two points. liggett the expenses into the pension plan it is much less whether mutual funds that is the advantage is spread out over 20 years and also the match. 5% on average than now what our employer's matching? is that two or 3%? you have a tough road to hoe in the private sector. >> adding insult to injury there is a big debate -- debate right now how much do take out if you're in the private sector.

3% or 4%? >> i think 4 percent is the magic number and it is conservative but that is what you need to consider. not like the 1968 through that 82 period it had a hard time to break out of the glass ceiling we have not made as a tremendous amount of progress over the last tender 13 years and it would not surprise us to see inflation play more of role just like the late 70's so i think keeping it conservative as you can is of narrative 4% is a good number. gerri: i guess we have to retire later. talk about the super cycle what do you make of this? is this what the investors

should take to heart? >> we believe the cycles with the charleston research center with the gold cycles it is now bottoming going of projections. gerri: it has gold going back to the of high? >> has a long way to go back don't forget gold prices will hinge on so many things interest rates and ben bernanke. he seems to change his mind every week now gold goes back down.

>> what do you say about china with the of commodity markets? >> the critical contrast between the commodities in the precious metals the secular trend is still up 270 percent better compared to 30 years ago it is quite significant over that time frame and we have 38 percent and that cycle is over we will see higher prices but the main impact there is the commodities they are responsible between 30 and 60% of coal, nickel, copper coal, nickel, copper, lead, zinc, 40 or 60% of total %-a shrinking demand with a trajectory of 5% this will hit the commodity sector.

gerri: i here where you are saying but it sounds like you think there is no of of you to the epicycle? >> they will go back to the high apple secrets correctly talked about the pass public interest rates 30 years ago they were i know 60 years ago they weee low because there was the television the biggest seller was the government selling fatah bonds as a rethink their rates will go up starting soon over the next 30 years the bond will go down so it is important to look over the viewpoint. >> then to look short-term what is that outlook? >> pretty good. and tell the rates to start backing up 51 to any return anywhere within noted weakness of commodities you

buy equities a hand in dividends. a and you do that because of the dollar risk currency risks they actually got some flooding and aside from oil real are getting hammered. gerri: where to go from here? >> once we get above 1700 decisively without the down side we are looking at the mutual-fund managers having a cash position of less than 4%. we have margin debt at the levels of 2008 just before they bowled over with the 50% decline of equities. also the same as 2,000. we are concerned the largest inflow into equity mutual funds since june of 2008.

not a context that we think is constructive but the fed can still drive the price is higher. gerri: you are talking over my head. i am not sure what that means. what is a short-term outlook ? >> we are calling for futures in the s&p and the balance will project to go up in david manchin to the dollar. we think that will top next year in and go down in the cycles have been accurate. gerri: thank you for coming on. interesting conversation. the economy is one of the many issues with the white house press secretary every single day and according to yaw prove he has held over five the debriefings with

nearly 500 questions it he sees in this to say some of the same things over and over his avorite phrase makes up the top five. not that i know of 927 times. number four, i am not going to tell you. 939 times. number three, you already know the answer. more than 1100 times. number two, i would refer you choose somebody else. passing the buck is a national pastime and has said that nearly 1400 times. number one the most common answer, i don't have the answer. really? really? isn't that your job more than 1900 times. i don't have the answer. his other one is i don't want to and of course, , i'm not sure. good thing he is not the weatherman.

coming up my interview and it is also money-saving monday and how you can and cut costs. next. ♪

this man is about to be the millionth customer. would you mindf i go ahead of yo instead we had someo go ahead of him and win fiy thousand dollars. congratulations you are our e millionth customer. nobody likes to miss out. that's why ally treats all their customers the same. whether you're the first or theillionth. if your bank doesn't think you're special anymore,, you need an ally. ally bank. your money needs an ally. trust your instincts to make the call. to treat my low testosterone, my docr and i went with axiron, the only uerarm low t treatment. axiron can resre t levels to normal in about 2eeks in most men.

axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and childrenhould avoid contact where axiron is applied as unexpected signs of pubertin children or changes in bo hair increased acne in wen may occur. report these sympts to your doctor. tell your doctor about all medical conditions and meditions. serious side effects could include increased risk of prostate cancer; worsening prostateymptoms; decreased sperm count; ankle, feet or body swelling; enlarged or painful breasts; problems breathing while slping; and blood clots in the legs. common side effects include skin redness or irritation where applied, increased d blood cell count, headache, diarrhea, vomiting, and increase in a. ask your doctor about the only underarm low t treatment, axiron. (announcer) scottrade knows our and invest their own way. with scottrade's smartext, i can quickly understand my charts, and spend more time ading. theiquick trade bar lets my account follow me online

so i can react in real-time. us, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. voted "best investment services company." gerri: what a cool graphics. [laughter] that was also on. money-saving mandate we are helping you to save money while travellng a handful of phrases that can help you put more money in your pocket. rick, welcome back to the show. >> the graphics are hard for me to see but i am sure they are cool. [laughter]

gerri: can i get the upgrade just forrasking? >> i think if airlines have their way you would not asking human but this marco but there are ways. if you are moving up with some of the of larger airlines absolutely you can ask for the upgrade even with the smart phone with the international flights upgrading the business class usually cost of the way it less than it would cost to buy the ticket. gerri: that price also would have been eight or $9. it is possible. gerri: just trying to find ways to save. what about willing to be bumped? >> absolutely if they overbooks the flights they

are required to give you cash a little over 1300 or if you decide to volunteer always always asked to be bumped up to the first-class seats and make it part of the requirement absolutely. gerri: i have done that before in there works. they will do it because of to first class is not full. in the other tricks? >> in some cases certainly you have upgrades coming potentially if you have the elite status but it is difficult domestically when the flights are 90% full many first-class cabins are so small there is hardly anything up there but with more legroom absolutely those seats is not sold ahead of time will be released to the public and switch your seat beside it

at the last minute. gerri: you know, this program with the psa with the nightmare to have your luggage checked they are expanding that. is it worth it? >> i think so basically before the of 9/11 in check-in tissues on in the of liquids are in the bag is $70 per year unless you'll the fly once or twice, just remember you cannot take yourids with you so that may add to the cost if you do the whole family could get expensive. under 12 year-old they can come with you. at least one of them. gerri: baggage fees. hiking those golf bags is a nightmare. du no baggage fees are five years old? is seems like they have been here forever. >> may 2008 american

airlines $15 and it is now up at 25 and i guarantee if we get $110 oil it will go about 33 go at $75 it will not go back get 50 they are steered tuesday. there are some ways to get around it for so obviously not checking the bags or changing your reservation but airlines like the southwest and jetblue don't have the bag fees if you achieve the elite status many credit cards will reimburse euro and if you are a really frequent-flier united airlines has been limited begs per year $340. gerri: i want the magic want good to see you. gerri: not just airlines

also cruises are a good example if you use these phrases you can get the discount. let them know you are the of its hell -- military or returning customer and hotels if you have a kid it could mean the upgrade to sweet. for other ideas log onto gerri willis.com. next we talk about the latest book assuming to the top of the charts. the english girl. ♪

some say one of the greatest novelist of all time in the

latest is just out. next.

gerri: just in time for summer of with his new book case by novel called the english beat -- the english girl getting rave reviews. i have heard so much about this book tell us when how you came up with the new character. >> it is my 13th novel in the series and this has a special character at the heart of it will. a rising star within the british governing party working at party headquarters everybody thinks she is going places

to be a cabinet minister and she is the mistress of the of british prime minister. gerri: not too far from the reality is a are you reading the newspapers? after all your a former is journalist. >> i inspired by the world around me but it is if they could be happening in a parallel universe. gerri: following edward snowden is that the kind of character you reduce? @% i was contemplating a book that would unfold very much like these noting case is unfolding now. i will not write that because it appened in real life that i am deeply conflicted.

i always knew the nsa was a giant vacuum cleaners sucking up this information and restoring it to a way. i knew the names of the programs but to have him say it was a shock. gerri: did you know the extent of this? >> sure. anyone who really understands the nsa and the sophisticated computer programs and allorithms put in place after 9/11 to try to identify the terrorist even before they knew they were a terrorist themselves. some of the things used in marketing to help retailers sell to people. >> this must help you know that level of detail. >> i have a lot of contacts in the intelligence world but still my books are

entertainment, a fantasy and my characters are my own creations. gerri: talk about the book industry under pressure with a lot of consolidation and talking about how there are fewer retailers. what does that mean for you? >> not a tremendous impact for me my sales continue to grow but a larger portion of my sails profile is taken up by the book. i do have a little distance from the publishing industry i rejoice in it 2009 through 2012 it is if i caae back to a different industry each year because a change so dramatically that now they have stabilized a little bit

we lost borders obviously but my a e-books is what they are. gerri: are you laughing and of -books? >> i write my hands on the legal pad. gerri: hoo long? >> i sit in and write to the night enter it into a computer i cannot turned in the handwritten book to my publisher by the use e-books when they need them quickly but i liked it with hard cover. gerri: the industry is incredibly competitive but what about the offer side? i have never seen anything as competitive as what goes on with the right-wing side you have to crawl over the bodies of starving writers to get to the top. what about the product to get people's attention?

>> mine was the steady growth of my sails profile. explosive debuts or of books like indian brown but to have it slow and steady it has been very liberating. gerri: gabriel will come back full time? >> he better or i am in trouble. [laughter] gerri: we will be back with the answer to the question of the day should the ama decide how much you pay for medical procedures? stay with us. ♪

♪ ♪ ♪ [ male announcer ] if y can't stand the heat, get off the test track. get the mercedes-benz you've been burning for at the summ event, going on now at your authorized mercedes-benz dealer. but hry, offers end july 31st. that's a good thin but it doesn't cover everything. only about 80% of your rt b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans,

they help save you up to thousands in out-of-pocket costs. call today to request free decision ide. with these types of ans, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a specialist. join the millions who ve already enrolled in the only medicare supplement insurance plans endorsed by aarp... and providy unitedhealthcare insuranccompany, which has over 30 years of experience behind it. with all the good years ahead, look for the experience and commitment to go the distanceith you. call now to request your free decision guide. gerri: in tonighto show we looked at the one number that controls all of our healt healte spending that little known 5

digit code, the cpt code, the american medical association gives you that code. it pays to read those codes when they show up on your medical bill and understand what they mean, the ama on its web site has a decoder to help you understand who those numbers mean. scour the bill for duplicate billing, billing services that were never offered and typo, remember 87% of medical bills have a mistake. that is my 2-cents more. what do you think about this. should american medical association decide how much you pay for medical procedures, 86% said no way. good stuff. that is it for tonight's willis

report, dvr the show if you can't catch us live, have a terrific night. lou: good evening thank you for being with us, the beginning of a new week for the obama white house last week president launched a campaign of racial division in response to george jim hilzimmerman acquittal, a fs campaigned on diverting public's attention from numerous scandals that embroil the white house. the new week with a new diversion. from race baiting to the economy and jobs, and president spokes important all but admitted that a differen different -- 2k-69