Diagnosing a Broken Healthcare System—with Dr. Deane Waldman - EP 134
For a system to function correctly, its incentives must align with the outcomes we want. Perversely, the American healthcare system doesn’t work that way. Rather than rewarding medical professionals for improving health and quality of life, our system feeds off of sickness and disease—and insurance companies make money when care is denied. So, how can we take federal bureaucracy out of the equation and return control to the patients?
Dr. Deane Waldman is the former Chief of Pediatric Cardiology at the University of Chicago Medical Center and Emeritus Professor of Pediatrics, Cardiology and Decision Science at The University of New Mexico. He also served on the Board of Directors of the New Mexico Health Insurance Exchange and as the Director of the Center for Healthcare Policy at the Texas Public Policy Foundation. Dr. Waldman is the author of more than 250 articles and six books, most recently publishing Curing the Cancer in US Healthcare: StatesCare and Market-Based Medicine.
On this episode of Men on Purpose, Dr. Waldman joins Emerald to explain why he couldn’t make the University of Chicago a patient-focused institution and how that experience inspired him to diagnose the root cause of the problems in the American healthcare system. He introduces us to his metaphor of the federal bureaucracy as a cancer in the system, discussing how the government consumed nearly half of the $3.5T spent on healthcare last year. Listen in for Dr. Waldman’s insight into how the current structure feeds on our illness and learn how we can both change the perverse incentive structure and reward the positive outcomes we want—by returning control to ‘we the patients.’
What You Will Learn
Why Dr. Waldman couldn’t make the University of Chicago a patient-focused institution
How Dr. Waldman diagnosed the root cause of the problems in American healthcare
Dr. Waldman’s metaphor of the federal bureaucracy as a growing cancer in the system
How the federal government consumed nearly half of our $3.5T in health spending
Dr. Waldman’s example of the perverse incentive structure in the healthcare system
Dr. Waldman’s mission to eliminate third parties and restore control to the patients
How the current system feeds on our illness rather than gaining by keep us well
Dr. Waldman’s insight around how to reward the positive outcomes we want
How the Affordable Care Act reduced access to care despite insuring more Americans
How the average American family spends 45% of its gross income on healthcare costs
Connect with Dr. Deane Waldman
Connect with Emerald GreenForest
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This episode is sponsored by the Creative Age Consulting Group. Men - Is it time NOW for you to make your mark? Visit timetomakeyourmark.com to apply for an invitation-only consultation.