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Is Innovation Stuck in Healthcare? Two Brothers Get to The Bottom of It
Healthcare is Hard: A Podcast for Insiders
English - February 15, 2024 09:00 - 46 minutes - 31.9 MB - ★★★★ - 25 ratingsMedicine Health & Fitness Business Investing healthcare health systems healthcare innovation digital health venture capital Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
In most industries, innovation leads to an improved product or service while ultimately helping to lower cost. Healthcare is the exception. Despite a constant pursuit of new science, technology, operational efficiencies, business models and more, healthcare expenditures in the U.S. have continued to increase for decades with little sign of bending the cost curve downward.
What causes this phenomenon in U.S. healthcare, and what can we do about it? In their book, Why Not Better and Cheaper?: Healthcare and Innovation, twin brothers James B. Rebitzer and Robert S. Rebitzer offer answers to those questions.
Jim and Bob’s book brings together research on incentives, social norms, and market competition to argue that the healthcare system generates the wrong kinds of innovation. They contend that U.S. healthcare makes it too easy to profit from low-value innovations and too hard to profit from innovations that reduce the costs of care. As a result, we get a system where innovation abounds, but finding ways to deliver increased value at lower cost is remarkably ineffective.
In this episode of Healthcare is Hard, Keith Figlioli talked to Jim, a professor at Boston University’s School of Business, and Bob, National Advisor at Manatt Health, for an in-depth discussion about their work. Their conversation explored topics including:
To hear Keith, Bob and Jim discuss these topics and more, listen to this episode of Healthcare is Hard: A Podcast for Insiders.