The Nashville Tech Story (7/31/09)
Part II – Is Quality or Cost More Important?
In Part I we discussed the amount of money being spent on healthcare. Today, we will talk more directly to the opportunity of healthcare and technology.
We have the best healthcare system in the world. Well not really, according to the 2009 WHO World Health Statistics. It is good, but we are not the best. However, we do spend the most per capita. So are we really getting good value for our money?
A local firm, Data Advantage has created the Hospital Value Index to help consumers understand which hospitals provide the best quality at the best price. It is surprising to see who is number 1 in Nashville.
Don’t care about costs? I just want the best hospital when I need care. This is a prevailing theme when we need care. Well the government is here to help us once again. Visit Hospital Compare to get a detailed view of outcomes in US Hospitals.
How about if we just cut the administrative cost of paying for all the procedures across the United States? Did you know there are approximately 13 billion transactions a year in America? Across town, Emdeon’s US Healthcare Index projects a 20% increase in electronic transactions would save approximately $34 Billion. That would be a good start.
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