Knowledge Sharing
We believe curious people find innovative solutions. This is an integral piece of how we manage our company and what we plan to demonstrate through our blog, The power of shared knowledge.

Throwback Thursday in Healthcare

Did you know that twice as many Americans trust their physician over their insurance company? Surprised? Probably not. It certainly does not surprise us. ᅠᅠ

To understand why, let's do a Throwback Thursday (#TBT):ᅠ

Frank Roby - 1984 Frank Roby - today

Hopefully the aging has added at least some wisdom. In those days, ten megabytes of memory cost $1,000. A doctor visit was $30 - now that's just the co-pay. And the full cost for a comprehensive healthcare plan? $55 per month. (No, I'm not kidding.)

The trajectory of today's cost was seeded in those early days. Co-pays and low-cost health insurance stimulated access while expensive data mining and storage limited analytics; the result was a system that focused on provider fee negotiations rather than utilization. The idea of a collaborative system sounded great, but no one could imagine that it was possible.

As the market began creating silos in order to concentrate resources on the expansion of their control over market share, the dream of technologically advanced collaboration became a distant wish. This silo segmentation led to the inefficiencies we have today.

Here's a snapshot of today's inefficiencies...

  • Physicians tell us that today's system has most of them spending 6 to 8 minutes with a patient. That is less than half of what they spent 25 years ago.
  • Primary care physicians devote as much as a third of their average yearly practice revenue obtaining treatment authorization from insurance companies. In some cases that total is greater than the time they are able to spend with patients.
  • The average surgery patient sees 27 different doctors and providers, while time constraints make collaboration between them rare. ᅠ

What is the underlying cause of these inefficiencies and what has to change to heal America's broken healthcare system? ᅠᅠ

We asked Dr. John Moore, one of the doctors using our mpactMD technology, to comment on the status of healthcare. Here's what he had to say:

"Reimbursement cuts have been gradual since I began practicing medicine in 1988, and have accelerated over the past five years. It makes no sense that we are paid less to perform procedures when we are not provided the information we need to actually improve outcomes at a lower cost.

And because our reimbursement system (fee-for-service) makes it nearly impossible to spend the time to gather this type of information on our own, the only way to fix our broken system is to put information in the hands of the people that authorize care - physicians - and pay them for the quality of their work. We want to help our patients find better solutions. But the way we are asked to do it now is like asking a mechanic to fix your car without knowing what kind of car you have.

With mpactMD, I finally have a mechanism to see cost and outcome information for the first time. And a centralized place to communicate with peers and better the continuity of care. It's sort of the holy grail of medicine."