United States purchasers of healthcare pay higher prices for a unit of service relative to other countries. In fact, these prices are primarily opaque, and the consumer rarely knows what it will owe for payment before they make a purchase. Market-based economics argue that price transparency of products leads to greater competition, thus leading to lower costs over… Read More »
What is supply optimization and why is it important to healthcare? If we are to consider supply optimization as the application of processes and tools to ensure the optimal use of said supply, in terms of healthcare, this means offering our patients the most optimal care we can in the most affordable and accessible way. We continue to… Read More »
A profession is defined as an occupation founded upon specialized educational training, the purpose of which is to supply disinterested, objective counsel and service to others for direct and definite compensation. The two key components of this very “matter of fact” definition are specialized educational training and offering a service to others for payment. Unquestionably, those that provide… Read More »
There is an ever-widening gap between payments made by private health insurers and those made by the federal government. Between 1996 and 2001, payments made by private insurers were 10% greater than Medicare. By 2012, this difference increased to 75%, meaning Private Insurers are paying the majority of healthcare costs over programs like Medicare and Medicaid. We must… Read More »
With the initiative of Choosing Wisely, which was introduced to the healthcare community in 2012, there has been an intentional focus on decreasing unnecessary testing such as CTs, MRIs, and labs. Superfluous medical treatment, tests, and procedures lead to not only increased cost, but also the potential for higher incidents of unintended harm. Incidental findings frequently lead to… Read More »
One of my favorite images is a picture of three boys standing behind a fence trying to watch a baseball game. One is tall enough to gaze over the fence; the other two are of different heights, and unable to glimpse the action. There are three boxes stacked next to them. The question posed is “How would you… Read More »
As we continue to focus on shared decision making within the context of value-based care, one of the primary goals is the prevention of over treatment through better communication. To improve our conversations, we must first unearth any underlying components that impact both the patient and the provider. Disease uncertainty and management choices can evoke strong psychological reactions… Read More »
Recently, I had the unfortunate opportunity to experience a healthcare encounter first hand. Though I wish it could have been avoided, I immediately noticed several significant differences compared to other experiences of my past. Not long ago, on my blog, I wrote about shared decision making, pricing transparency, and the opioid situation of prescribing narcotics when not always… Read More »
Unfortunately, I do not always take the time to read the comments to posts or articles made by my colleagues, but today I did. Regardless of the topic, the same theme emerges, “if you just let me practice how I believe I should, all will be well.” Containing numerous layers and meanings, this comment, at its core, is… Read More »
In continuing to discuss the cost of healthcare and its sustainability, we must analyze consumer behaviors and dissect the role they play. For many reasons, healthcare will never be a legitimate market-driven business, nor should it be because it involves important social dynamics. However, there are several aspects of a consumer-based market that are applicable. Shared decision making… Read More »