The most common and gratifying word I have heard from doctors since trumpeting the importance of the Quadruple Aim and starting the seed stage venture fund named the Quad Aim Fund is ‘hope’. It’s been striking how many doctors have said that they had lost hope and hearing the stories of the highest performing healthcare delivery organizations restored their hope in their profession. The primary reason why is that virtually every high performing model I’ve chronicled is led by doctors.
If you study the tricks the healthcare industry uses that has led to healthcare’s hyperinflation, doctors have little to do with them. Yet, as the most prominent member of industry, they tend to get disproportionally blamed for out-of-control healthcare costs. One could cut the compensation of all doctors in half and we’d still have a catastrophic cost problem. The innovative doctors who have solved healthcare’s most vexing problem — pricing failure — didn’t take a big pay cut to make it happen. Rather, they cut out the administrative burden and the massive overhead from the bubble-like 40% over-capacity of hospital beds that is effectively a redistribution tax on every citizen in the country.