Chapter
The Complexities of the Healthcare Industry's Revenue Model
23:38 - 29:59 (06:20)
The revenue model in the healthcare industry is complicated, where providers and payers may benefit from higher revenues, leading to a non-virtuous circle. However, the manufacturers of drugs are not the culprits for the rising healthcare costs, but rather the pharmacy benefit managers and payers that own them.
Clips
The way we treat people in the short term can have massive long-term effects, yet many leaders have been slow to recognize this.
23:38 - 24:38 (00:59)
Summary
The way we treat people in the short term can have massive long-term effects, yet many leaders have been slow to recognize this. Personal financial gain often drives decisions, but as priorities shift, decision-making processes change.
ChapterThe Complexities of the Healthcare Industry's Revenue Model
EpisodeMark Cuban doesn't believe in following your passions | ReThinking with Adam Grant
PodcastTED Talks Daily
The incentive for higher revenue in the healthcare industry can create a non-virtuous circle for insurers and providers, causing a decision-making conflict between patient outcomes and cost.
24:38 - 27:11 (02:32)
Summary
The incentive for higher revenue in the healthcare industry can create a non-virtuous circle for insurers and providers, causing a decision-making conflict between patient outcomes and cost. Today's generation is more socially conscious and may choose to support companies with a strong mission.
ChapterThe Complexities of the Healthcare Industry's Revenue Model
EpisodeMark Cuban doesn't believe in following your passions | ReThinking with Adam Grant
PodcastTED Talks Daily
The complexities of drug pricing come from pharmacy benefit managers and payers trying to maximize their margins, often using manufacturers as a pawn in their game.
27:11 - 29:59 (02:47)
Summary
The complexities of drug pricing come from pharmacy benefit managers and payers trying to maximize their margins, often using manufacturers as a pawn in their game. These middlemen own pharmacy benefit managers and retail pharmacies, and justify their bigger margins by the need to reinvest in R&D to develop life-saving drugs, like the COVID-19 vaccines.