Stanley Feld has a great post on how entrepreneurs are ruining the health system. He argues that hospitals have been very effective at gaming CMS rules. He is quite right about hospitals, but physicians are uncommonly smart and successful at entrepreneurship, if they take the time to learn a few good business skills.
Well-meaning economic types have always tried to regulate the power of health care to generate revenue. Physicians have always had an ethical boundary that they are reluctant to push. MBA's and MSHA's get a couple of hours of ethics in class... the kind of thing you gloss over to say you did it. Sort of like the 20 minutes we spent on the spleen in medical school ("is this going to be on the exam?")
On one hand, we want the health care system to grow, provide us new technologies faster and cheaper and improve our quality of life.
On the other hand we want it all at low cost so that we can appropriately arrange our resources to have the greatest public health benefit.
These two goals are nearly entirely in conflict and it is a rare economist, insurance salesman, political ideologue, public servant or hospital administrator I trust to navigate the paradox.
(OK,
Paul Levy 's a smart guy and I really like
Maryland's health secretary .)
Well-meaning economic types have always tried to regulate the power of health care to generate revenue. Physicians have always had an ethical boundary that they are reluctant to push. MBA's and MSHA's get a couple of hours of ethics in class... the kind of thing you gloss over to say you did it. Sort of like the 20 minutes we spent on the spleen in medical school ("is this going to be on the exam?")
On one hand, we want the health care system to grow, provide us new technologies faster and cheaper and improve our quality of life.
On the other hand we want it all at low cost so that we can appropriately arrange our resources to have the greatest public health benefit.
These two goals are nearly entirely in conflict and it is a rare economist, insurance salesman, political ideologue, public servant or hospital administrator I trust to navigate the paradox.
(OK, Paul Levy 's a smart guy and I really like Maryland's health secretary .)