🔥 When I saw this slide from last week’s Future of Healthcare Conference at the University of St. Thomas - Opus College of Business, I felt all kinds of dread. This is our system. We own it. *The US spends 18% of its GDP on healthcare. The top 4 of the 10 largest industries in the US are Healthcare, Pharma, Prescription Drugs, and Healthcare Insurance.
💡 And YET, there are companies that are radically challenging the ailments of the system (and it's not all solved by AI): The delivery of care (Nice Healthcare), reducing cost in the system itself (DOCSI and MOBĒ), and other virtual care companies that extend care options into rural areas where there are provider shortages.
💭 An ongoing challenge for payers and entities who take risk is who gets the benefit of cost savings of a patient who gets better over time, which often happens 18 months later. What is their motivation to change their fundamental structure of reimbursement/payment? THIS is a larger question.
🌟 In the meantime, I would love to hear what other companies, especially in Minnesota, are directly impacting the cost, quality, and efficient delivery of care to those who need it most. Who is on your radar?
🎤 Shout out: Paul N. Long, MBA for the suggestion to join the conference.
#healthtechnology #thefutureofhealthcare
* Slide source: David Johnson