Heard someone today mention that despite being the best in the world, our health care system is the most expensive, financially wasteful, and inefficient in the world. This is one reason.
In his lunchtime keynote Tuesday at the mHealth Summit, [Gary] Shapiro, who oversees the world’s largest innovation tradeshow, the International CES, said innovation is being stifled in healthcare by an overbearing legal system, a financial framework that rewards physicians for avoiding new technology and choosing more expensive procedures, and a testing and approval process that can’t keep up with technology.
“Our healthcare system is based on a system that was (established) before the Internet,” he lamented.
His suggestions? Change the legal system to what he called “loser-pays litigation,” get rid of the stifling patent system – in particular, patent trolls – stop incentivizing doctors for choosing more expensive drugs, amend Obamacare to eliminate new taxes on healthcare innovations, speedup the FDA’s review process, and change the nation’s immigration policy from a lottery-based system to one that rewards creative minds.