HEALTHCARE IN CRISIS

This is an article to be published in FLOURISH Magazine (www.flourishmagazine.com)

As we watch insurance premiums increase and benefits decrease, we are all compelled to fix the rising cost of healthcare. Hospitals, the once untouchable vertical, are faced with increasing charitable care and are working diligently for ways to remain solvent. They are seeking methodologies like “Lean” principles which examine their processes and shore up inefficiencies. They are competitively seeking your business and want to have high customer satisfaction. However, with rising concerns for litigation correlated to patient safety and government regulation surrounding transparency their challenges are great.
So what’s the answer? Do we shift our healthcare system to mirror Canada where no one is denied care? Or do we model after Australia where government provides healthcare but you have the choice available of private care for an additional fee? According to the CMAJ those making ≥$59,000 have tax rate of 55% of income in addition to a monthly premium. Any way you slice it, the answer is not easy. There are layers of items that we need to find a solution that is both ethical and fiscally responsible. Hospitals are doing their part to increase efficiencies, focus on patient care, and meet safety expectations. We need to do our part. Be informed, partner with them and become active to ensure the best solution is found.