Do you know that the United States spends more on healthcare than any other nation, but has the worst outcomes compared to every other economically robust nation?
At BrokenHealthcare.org we believe that the most important first step towards a better healthcare system is healthcare price transparency. We are pushing for price transparency in three ways:
Why Price Transparency?
Since I founded BrokenHealthcare.org, I have had the privilege of speaking with hundreds of patients, healthcare experts, legislators, academics and journalists about America's broken healthcare system. Almost everyone I speak with gets around to asking the same question in one form or another: With all that's wrong with our healthcare system, why are you so focused on price transparency?
I have a powerful answer to that question: Price transparency is a nonpartisan concept that almost everyone can support, and without price transparency we cannot solve any of the other problems plaguing our system.
Are healthcare prices spiraling out of control? It seems so. But we won't know how or why without price transparency.
Are many healthcare providers ordering expensive unnecessary tests for patients? We won't truly know when without price transparency.
Are patients with the same insurance plan being charged different amounts by the same hospital? We've all heard those stories, but only true price transparency will help us determine when and why that happens.
Is newer medical technology driving up the price of the older technology? Price transparency will tell us that.
Is there any correlation between price and quality of healthcare? Not likely. But we need price transparency to know for sure.
Our nation spends 50% more than any other country on healthcare but ranks dead last in healthcare outcomes among other wealthy nations (Source: OECD Health Data 2015). Do we have any chance of reducing spending and increasing quality? We have no chance unless we truly understand how pricing works.
Here is one more sobering statistic. In one year (2015), hospitals, health service providers, and health professionals spent $257.9 million on lobbying activities-more than any other industry (Source: Center for Responsive Politics). Each year a portion of that money goes towards fighting price transparency. We need to fight back. Our personal and economic health depends on it.
David Silverstein is an executive and thought leader who has been inspired to use his strategic innovation skills to tackle healthcare reform, one of the most complex issues facing the nation today.
As founder and CEO of Lean Methods Group, a global management consulting firm, David has been changing the way business leaders think for decades. With deep roots in operational improvements using Lean and Six Sigma methods, the Lean Methods Group has helped dozens of large companies save hundreds of millions of dollars while setting in motion radical and long-lasting transformations.
David founded BMGI (later Lean Methods Group) in 1999. Since then, he has grown the company into an internationally recognized strategic consulting firm, serving clients in more than twenty countries.
Writer and Author
David is a frequent media source on topics related to innovation, strategy, economics and global trends. He is a guest writer for The Economist and Inc. and has been featured in, or has written for, The Washington Post, The Robb Report, CNBC, NPR, Fox News and many other media outlets. He has written on innovation, performance and significant business issues for numerous publications including BusinessWeek, Inc. Magazine, The Wall Street Journal and Forbes.
David’s Strategic Leadership book series is designed to help business leaders collect information, operate at peak performance, and hone their decision-making skills. His titles include One Dot Two Dots Get Some New Dots, Become an Elite Mental Athlete, and Three Steps Ahead. He has also published several books on innovation, business management and executive leadership, including The Innovator’s Toolkit: 50+ Techniques for Predictable and Sustainable Organic Growth and Insourcing Innovation: How to Achieve Competitive Excellence Using TRIZ.
Before entering industry David spent 7 years as an officer in the US Navy’s elite nuclear submarine force. He holds a dual degree in physics and mathematics from Ithaca College and an MBA from the George Washington University. He lives in Colorado with his wife Kathy and their four children.