Primary care is meant to be the foundation of our healthcare system, yet it receives only 4-6% of total US healthcare spending. That under-investment is one reason—if not “the” reason—why the US spends more on healthcare but has the worst outcomes among high-income countries, according to a Commonwealth Fund report.
Our current fee-for-service system incentivizes volume over value. Despite industry rhetoric about the importance of primary care, it remains poorly resourced and ill-equipped to deliver the comprehensive, continuous care patients need. Meanwhile, clinicians’ frustration with low payment, administrivia, and fragmented technology saps the joy of delivering care from their lives, fueling record-setting levels of burnout and a worsening shortage of primary care physicians.
On today’s show, the IA panel explores how we can, and why we must, focus on and transform primary care through innovations in payment models; innovations in healthcare IT; and innovations in the marketplace by primary care startups (those funded by private investors, private equity, venture capitalists) and established corporations, such as retailers, pharmacy chains, insurers, and healthcare leaders.
Joining Innovaccer’s Seth Hogan on the panel is Ann Greiner, the president and CEO of the Primary Care Collaborative, a not-for-profit association working to advance an effective and efficient health system built on a strong foundation of primary care and the patient-centered medical home.
Also taking a seat on the panel is Forbes columnist Seth Joseph, the managing director at Summit Health Advisors, an advisory and consultancy focused exclusively in healthcare, and primarily working with digital health startups and investors.
Here’s what the panel debated: