Menu

What Really Stands in the Way of Cutting Health Care Costs
📰
0

What Really Stands in the Way of Cutting Health Care Costs

Knowledge at Wharton·@HashtagPLUS·about 1 month ago
#37fmEhwr
Reading 0:00
15s threshold

When forced to choose between abstract evidence and experience, many physicians tend to rely on experience. This keeps health care costs high, write consultants Ngan MacDonald and Walter Linde-Zwirble in this opinion piece. MacDonald also discussed the piece on the Knowledge at Wharton show on Wharton Business Radio on SiriusXM channel 111. Listen to a clip above. A study of Blue Cross insurers released on July 9 by the plans’ trade association reported that health insurers are slowly moving toward “value-based” payments to doctors and hospitals. Instead of basing payments on the number of tests and procedures performed, they are experimenting with a system that rewards providers for improving care and lowering costs. The goal, says Blue Cross, is to move away from a system that rewards high cost over high-quality, efficient treatments. That laudable goal, however, is likely to encounter resistance in a place you might least expect it: The highly rational, scientifically trained minds of physicians.…

Continue reading — create a free account

Join HashtagPLUS to read full articles, follow hashtags, vote, and join the conversation.

Read More