“One person’s waste is another person’s profit margin”: Challenges and opportunities in hospital cost efficiency
Why does the US spend far more than any other wealthy country on health care, but get such mediocre outcomes? Hospitals are not the only reason for this health care paradox, but they are part of the value problem because they make up such a huge portion of health care spending.
How can we improve hospital cost efficiency to get better outcomes for a lower cost? What are some of the challenges we face and opportunities for change?
At our recent launch event, we talked with Steward Health Care VP Dr. Tim Crowley, Yale University School of Medicine professor Dr. Nihar Desai, and Chief Medical Officer at OneHealth Nebraska ACO Dr. Bob Rauner about hospital cost efficiency.
Watch the video recording of the event to hear about:
- Why costs can vary significantly between hospitals with the same mortality rates;
- How ACOs and other health systems are reducing hospital costs on the ground;
- What policies and regulatory changes we need to incentivize hospitals to be more efficient;
- How we get health care systems savings into the pockets of patients and communities, rather than private equity.
- And more…