The Transformation Imperative

One year of healthcare spending can buy 15 iPhones. Or, it can buy over 3,000 gallons of milk.

Or, if you want to look at it in relative terms, U.S. healthcare spending, which in 2015 hit nearly $10,000 for every person in the country, was 29% higher than the next most expensive country, Luxembourg.

No matter how you size it up, what the U.S. spends each year on healthcare is a lot of money. That’s why there’s near-universal agreement that, no matter what happens in Washington over the next few years, the pressure on healthcare providers to transform the delivery system into one that achieves better outcomes at lower costs in a more patient- and consumer-friendly way will only grow more intense.

As that pressure builds, a whole new “innovation” industry within healthcare has come into existence. It includes startups looking to help existing providers improve the efficiency of their operations; the quality, safety and outcomes of their care; and their patient or customer relations. Or systems are creating their own internal methods to achieve those goals.

Whatever it’s called, there is now a system-wide consensus that the escalating pressure on providers to dramatically change how they organize and deliver care will continue in the years ahead. Bottom line-oriented employers, cash-strapped families and tax-starved governments will insist on it.

By Rachel Z. Arndt | Modern Healthcare

Image Credit: Modern Healthcare

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About Peter Coffaro 646 Articles
A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the orthopedic industry. Recognized by MedReps.com as one of the top medical sales influencers in the industry; he has 10 years of combined sales management experience and has held positions as a Director, General Manager and Distributor. Peter has worked for some of the top orthopedic companies in the world - Zimmer, DePuy and Stryker. He is also the founder of OrthoFeed: a popular blog that covers orthopedic news and emerging medical technologies. Peter is a three-time Hall of Fame award winner at Johnson and Johnson and has an extensive background in organizational development, business development, sales management, digital marketing and professional education. Peter holds a B.S. degree in Biology from Northern Illinois University.

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