COVID Series: The Business of Healthcare with Eric Bricker, MD
June 4, 2020: Our guest on this episode is Dr. Eric Bricker from AHealthcareZ and author of Healthcare Money Campfire Stories. After his medical training and co-founding Compass Professional Health Services, he became increasingly interested in healthcare finance and has since pivoted to healthcare finance training which he does through videos on AHealthcareZ. Today he talks to listeners about the triple aims of improved quality, lower cost, and better access, specifically as it pertains to the institutions best equipped to effect change. Rather than the onus lying with healthcare systems or insurance carriers per se, he argues that it comes down to individual teams and organizations who are committed to making these changes, stating that, for the moment, it still only happens in pockets and is by no means a national priority. Dr. Bricker also makes a case for why healthcare should fall in the middle of the spectrum between laissez-faire capitalism and governmental socialism, arguing that a bit of both is needed to ensure the best for all parties, and he elaborates on the septic dynamics of healthcare that he thinks requires regulatory oversight. Join us for more on the business of healthcare!
Key Points From This Episode:
- An overview of Eric’s medical studies, career path, and his interest in healthcare finance.
- How he makes the dullness of healthcare finance more palatable with his videos.
- Dr. Bricker’s take on the biggest change that will result from the crisis.
- People’s current reluctance to go to the hospital, even in the case of an emergency.
- Why healthcare is what Dr. Bricker describes as a zero-sum game.
- How insurance carriers are doing everything they can to avoid carrying any risk.
- Why it is up to each organization to achieve the triple aims and an example of one.
- Thoughts on whether healthcare can or should be operated as a business.
- The aspects or dynamics of healthcare that require regulatory oversight.
- The ongoing difficulty of patients not being able to navigate the quality of care they get.
- Why it is more beneficial for both patients and physicians when the latter earn a fixed salary.