Is Business Broken?
Why is Healthcare Not Better and Cheaper?
Mar 20, 2025
In this engaging discussion, Jim Rebitzer, a Professor at BU Questrom School of Business, and his brother Bob Rebitzer from Manatt Health, tackle the slow pace of healthcare innovation. They explore how financial incentives stifle progress and highlight a unique gait-altering technique as a solution to knee surgery. The conversation delves into social values influencing healthcare advancements, critiques the patent system, and suggests innovative funding models for pharmaceuticals. Their insights illuminate the urgent need for systemic reform in the industry.
36:40
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Quick takeaways
- Barriers in financial incentives and healthcare regulations hinder the progress of valuable innovations and cost-effective treatments.
- Integration of healthcare innovations is often resisted by established providers, necessitating strategies that minimize disruption while promoting acceptance.
Deep dives
Understanding Innovation Challenges in Healthcare
Innovation in healthcare faces significant barriers that hinder the advancement of beneficial technologies and treatments. The existing financial incentives often reward low-value innovations, making it more lucrative for companies to develop products that do not significantly improve health outcomes. This market dynamic discourages investment in innovations that could lead to cost reductions and overall improvements in care quality. Additionally, the authors emphasize the need to integrate a fourth vital sign for evaluating healthcare, focusing on the uptake of innovations that genuinely enhance care for patients and society.
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