In 2014, the national spending on healthcare in the US was $3.0 trillion, or $9,523 per person. We’ve all seen enough this-can’t-go-on graphs with projections that remind us how our misaligned healthcare financing is unsustainable. Although I’m not going to repeat them here, I’ve used some of my recent sabbatical time to try to study and understand why we are investing so much and still not getting the results that we should. Unraveling the US healthcare spend and also personalizing it for individual contributions is not for the faint at heart. But it is illustrative (and we hope to dialogue with you about it lots more).
Certainly, there are some bad actors in healthcare (potentially stealing up to 10% of Medicaid / Medicare spending through fraud, estimated to be $272B from American consumers in 2014 (estimate by CMS / RAND in 2012(1)). And yet, throughout my career in healthcare, almost every person I have met along with way is committed to making a positive difference. We’ve all seen the analysis of what’s going wrong: misaligned incentives, lack of care coordination, defensive medicine, insufficient data, and so on. At Spring Street Exchange we won’t pretend to be able to fix this all, but we certainly want to be part of the solution.
Whether simplifying the process for procuring a new software solution, working toward the alignment of incentives through a fledgling shared risk payer-provider contract, providing an operational audit on administering exchange business, or understanding the priorities of the Millennial generation, we tackle each project with the goal net adding value. It is our intent to leave every engagement having delivered benefit in excess of the cost, generating total net savings for our customers.
Spring Street Exchange was founded with a mind toward fresh starts (Spring), rugged truths (Street), and the radical power of acting together (Exchange). Let's tackle healthcare together; one step at a time.