Russ: How do you balance the holistic or what I call the complexity of the human body when different aspects of specialization interact in not always well anticipated ways by specialists? He asks how does a hospital keep one specialist from doing something that looks very good for the liver or the kidney but isn't so good for the rest of the body. Russ: The system rewards specialty training, and there's such a proliferation of medical knowledge that the generalist position is now more and more dependent on either the specialist to whom he or she might refer.
Steven Lipstein, President and CEO of BJC HealthCare--a $3 billion hospital system in St. Louis, Missouri--talks with EconTalk host Russ Roberts about the economics of hospitals. They discuss pricing, the advantages and disadvantages of specialization in modern medical care, and culture and governance of non-profit hospitals vs. for-profit hospitals. At the end they talk about the positives and negatives of a national health board patterned after the Federal Reserve.