How Are You Diving Down Cost and Improving Efficiency in Healthcare?

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What's interesting if you look at countries around the world, most of them are facing the same problem in cost. They're not as expensive as we are but the trend line means changes year to year in cost are pretty much the same, they may start from a different place. So, we have a global healthcare cost problem it's not just the US cause problems.

Maybe worst here than someways but it's not just a US problem. And there're a lot of reasons for why the healthcare costs are too high. I mean it's a long, long list but part of it is that we again, we don't use the learning and the devices and the techniques that other industries have used to bring cost down, simple things like optimization.

There's a company I know that uses the same techniques that the airline uses to schedule flights, or that UPS uses to schedule its driver and its packages to try to optimize staffing at a hospital. Because right now most of the staffing never changes day to day unless they've people do over times, and that adds more cost that's inefficient and frankly doesn't do much of a care because you don't really want some nurse put 16 hours taking care of you.

So, there's a lot of opportunity to improve the care while we reduce the cost and a lot of it, again about the right amount of data at the right point. Back to what I mentioned before about they waiting time in the emergency room. Well, there's a cost to having all of those patients wait there, right? Some day somebody is going to build a bigger emergency room so that's one big cost, but you have stuff that's taking care of them.

If you could have a way to maybe not have some of those patients even ever come to the emergency room because they've had better care at home for example, or we've been able to identify two days before they went to the emergency room that their congestive heart failure is getting worse, and they should go in and see their doctor during a regular appointment or whatever in between that.

Those two days they don't end up in the emergency room at all, that both improves the care, because nobody really likes going to the emergency room, and it's not healthy, and it also reduces the cost. It's a lot cheaper to treat that patient before they really get sick, treat them in the doctors office which is a lower cost setting than emergency room, just as an example.