Introducing Behavioral Economics to Healthcare

Introducing Behavioral Economics to Healthcare


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Dr. Hank Gardner discusses the origins of HCMS Group’s revolutionary approach to healthcare.

What sets HCMS Group’s approach to healthcare apart is the combination of behavioral economics concepts with the holistic bio-psycho-social model for medical practice, Dr. Hank Gardner said in the introductory installment of the periodic HCMS Innovation Vlog.

He described three economic tenets on which the healthcare information company’s work with employers and health organizations is built. They are that there’s no free lunch, so there are trade-offs in costs and priorities; that consumers/patients need to determine priorities in healthcare; and that it’s necessary to keep score by capturing data and analyzing outcomes.

“As benefit costs go up – particularly in the component of healthcare cost that is represented by healthcare waste – resources to pay wages go down,” Dr. Gardner said. “It’s one of the very critical issues American businesses face these days. As benefit costs increase, resources for wages diminish.”

Click here to view the Innovation Vlog.


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