Weekly Wisdom from Kauffman: How entrepreneurs can improve productivity and quality in healthcare
With U.S. healthcare costs rising about 2.5 percent faster than inflation, there’s an urgent need to improve productivity and quality in American healthcare. A Kauffman Foundation report found that open access to medical data could help find that cost-benefit balance.
The report, “Valuing Health Care: Improving Productivity and Quality,” asked 31 experts to consider: How can the productivity and value of American health care be increased, in both the short-term and long-term? It offered some ideas for life science entrepreneurs eager to take on this complex and important problem.
The report included the following recommendations:
- Unleash the power of information by breaking down silos and encouraging data sharing between research centers, medical offices, pharmaceutical companies, insurance firms and others; and that a new corps of data entrepreneurs be incentivized to collect and analyze existing medical data to discover and then disseminate new therapies.
- Fund more translational, cross-cutting research, with larger average grants made available to larger teams, many of them with participants from multiple institutions; and requiring collaboration across research institutions.
- Empower patients by, among other means, providing unbiased information on treatment options' benefits and drawbacks, and helping them make choices about the relevant lifestyle implications and risk-reward tradeoffs.
Weekly Wisdom from Kauffman is a regular feature on eMed highlighting insightful research from the Kauffman Foundation. Do you have a favorite Kauffman research insight that could help life science entrepreneurs? Send it to mailto:email@example.com.