The Power Of Fitness Wearables with Stanford’s Dr. Michael Snyder
FYI - For Your Innovation
Financial Incentives in Healthcare
The healthcare system in the US is broken due to misaligned financial incentives. The focus is on treating illness rather than keeping people healthy, with no one paying for preventive measures. The fragmentation in the system leads to reluctance in investing in individuals who might switch healthcare providers. The high initial costs of technologies like genome sequencing hinder widespread adoption, demanding a shift in incentives alignment. Employers' involvement in wellness programs is seen as a positive step to incentivize individuals. Wearable devices like smartwatches hold potential for monitoring health, suggesting rewards from employers for using them. It is crucial to rework the entire financial incentive structure in healthcare to promote preventive care and harness the power of technology for better health outcomes.
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