From TV Doctor to Power Broker: Dr. Oz Thrives on Trump’s Team

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0:32Carol Massar:Bloomberg Audio Studios, podcasts, radio, news. You're listening to Bloomberg Business Week with Carol Masser and Tim Stenevek on Bloomberg Radio. Hey, listen, we want to switch gear to another great story that's definitely on our radar. Nobody's a peer of President Trump, but it does feel like Dr. Oz comes awfully close. Yeah, check out these similarities between the two of them. They're both wealthy television stars of the early 2000s. Check. Degrees from the University of Pennsylvania Check They became regulars on the Palm Beach social scene Before entering Republican politics Check, check And as a member of Trump's administration Oz's remit has been sprawling That's according to people familiar with the matter Who were quoted and spoken to by Rachel Korczang Bloomberg News health policy reporter Who writes all about how Dr.

1:20Oz is thriving

1:21Carol Massar:I had no idea And I, anyway, let's get going It's the perfect story Because it's like, wait a second We don't think about this Well, you did interview him at Milken, right? I did. I did. But, you know, it's interesting. I didn't realize his purview was so, like, he oversaw so much. Let's get to it with Rachel. She is here. He is the administrator of the Centers for Medicare and Medicaid Services. You write, though, he's become the heir apparent to lead the health department if RFK Jr. departs. Tell us a little bit about what you found out. So I found that typically the CMS administrator really focuses on health insurance.

1:56You know, they're running Medicare and Medicaid. These are it's a lot of money and it's really technical programs. It's really wonky. Usually people don't pay a whole lot of attention to it. But because Dr. Oz is close to the president and he has forged a friendship with Secretary Kennedy, he gets brought into the room on big discussions that are happening about health policy, including on childhood vaccinations and global health affairs. That just it's really unusual. But I think it's not a high conflict exercise. It's really interesting how he operates. You know, one thing that, well, and we should note that, you know, there's no indication that RFK Jr.

2:27is going to depart. And you make that point in the piece. Yes. No, not before the midterms is kind of the expectation. But there is this view in Washington that it's kind of surprising that he's lasted this long, right? Certainly. But I mean, I think the president really likes Secretary Kennedy and he's really on board with a lot of his ideas. Well, on the health side of things, going back to Dr. Oz, we've learned some things about what makes someone click with this president. What is it that makes Dr. Oz click with this president? I think, as you said, they do have a lot in common. But I think Dr.

2:57Oz is somebody who likes to explain things. You know, he has built a great team around him and he's interested in the policy ideas. When I talked to people who had briefed him, they said he just inhaled the information and he loves to dig into the details. And I think the president understands that the Medicare constituency is honestly really important in politics. And he trusts Dr. Oz to deliver wins for him and to turn these big ideas he has into things that actually work in the government.

3:25Carol Massar:I love this, too, this exchange, because often you see in a term, a presidential term, people leaving like kind of midway. And that he committed to President Trump to serve his full term. He said, OK, I'll give you the job, but I'm going to insist on four years. And Oz committed to that, that he's going to go the distance here. And I think that's kind of interesting. Has his responsibilities and his access kind of grown since he's come to this position? Absolutely, certainly. And I think Secretary Kennedy never was a hands-on manager in his prior roles either. So I think they've really worked on building a team around him to handle some more of those day-to-day management solutions.

4:09and I think the White House certainly values Dr. Oz as somebody who can kind of translate from the White House and the goals we want and try to get Secretary Kennedy fully on board with that and just figure out how to make it happen. And he's really served that role.

4:23Carol Massar:Does the medical community as a whole, I'm just curious, as you guys were talking to different folks, do they also think, okay, this is good, this is kind of having an adult in the room, or how do they feel about this? I think it's widely viewed that his team are, he built a serious team of Republican policymakers around him. That being said, they're still Republican policymakers and they're still pursuing traditional kind of priorities in terms of scaling back Medicaid funding over the next 10 years and, you know, not continuing subsidies that made Affordable Care Act insurance more affordable for people.

4:56And I think monthly costs are going to go up over time and people are going to lose their health insurance. I don't think there's any question about that.

5:02Carol Massar:All of that is still happening. So all of that. So I think there's certainly concerns about those policies. But I think there is a general sense that nobody expected Dr. Oz to be this serious and I guess this effective in his role. What's the relationship that Dr. Oz has with RFK Jr.? I think they're honestly friends. And I think both of them, it's striking. It's interesting because one of them is a trained medical doctor who understands the science in peer review and clinical trials. And the other one comes from a place where critics argue that he doesn't necessarily see science in the way that, you know, it has been proven out in the medical establishment.

5:38No, I mean, the secretary understands. Right. He understands he doesn't have a medical background. And I think he really values Dr. Oz's opinion. And he is someone who goes around the room and seeks the counsel of his advisors and really listens. And I think just that trust has allowed Dr. Oz to have this influence in the room where it's not, you know, a backstabbing thing. It's not a conflict heavy exercise. But I think he really values his opinion. And they are they do seem to be pretty open minded to those discussions.

6:07Carol Massar:He's also smart about not undercutting, right? Yes. RFK Jr. It's a very fine line. I think the worst thing to be in the Trump administration is a showboater. They really don't like that. They want all the credit to go back to the administration. And I think he's played that game very well. We see that a lot when these members of the administration speak and the way that they highlight the contributions from the president. Make videos, do things. And talk about the leadership of the president. Not naming anybody. But yet, no. No, no, no. Listen. Like, you know, read the room, right? And I don't think that's also just specific to this president.

6:36Carol Massar:I think in general, right? We see it also with leaders of other countries, too. Yeah. And I would say even past administrations, right? You have to be careful about how you don't show up your president and the team. What did you learn in doing this? You talked to a lot of people. Just got about 30 or 40 seconds. Of all of it, as you think about the story, what really sticks with you? I think it's striking that just how much they're genuinely friends and how little conflict there is in that relationship. Between RFK and Dr. Oz? Yes. And I think there's a perception that, you know, somebody, there's so much speculation.

7:15I think the assumption would be that people try to grasp for power as much as they can, as quickly as they can. And I think we just haven't seen that dynamic play out between them. So it was odd, but it feels it's true. And so I think that is going to stick with me.

7:29Carol Massar:And I think it's safe to say that when he was named, two people were like scratching their head a little bit. But here he is, right? And certainly very involved. And certainly it sounds like a very trusted advisor to both RFK and to the president. Great stuff. Rachel Korzing, she is Bloomberg News health policy reporter. Check out her story. It is on the Bloomberg app, Bloomberg.com. Rachel, thanks.

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