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In the supermarket, we look for fish that’s sustainably raised. We’re swayed by sustainable practices from hotels and retailers. So why wouldn’t the same standard apply to the most important service industry in the world, healthcare?
The fact is that the traditional fee-for-service model, charging patients and plans for every blood draw, X-ray, and surgery, is an unsustainable norm that has pushed hospitals and patients toward bankruptcy. The volume approach brought many of America’s largest health systems to financial loss in 2022, while news stories report on hundreds of rural hospitals closing in recent years, with nearly 30% of those still open at risk. This is exacerbated by burnout among overwhelmed physicians, nurses and other personnel.