Manu V. – BASIS Scottsdale

BASIS Scottsdale Senior Manu V.

Can Money and Medicine Mesh? The Impact of a Shifting Medical Industry Upon Doctors

Project/blog link: Can Money and Medicine Mesh? The Impact of a Shifting Medical Industry Upon Doctors
BASIS Advisor: Mr. TJ Peacher
Internship location: Banner Medical Group
Onsite Mentor: Mr. Chad Cornell, CFO

Project Abstract

The medical field is a three trillion dollar industry, yet despite its size, it remains incredibly inefficient. To address this problem, the field is rapidly shifting its model of care. Patients are no longer seen as people in need, but as consumers receiving a service. The government incentivizes doctors and hospitals with monetary rewards for achieving quality metrics, such as healthy hemoglobin A1C levels, healthy blood pressures, etc. This change impacts how doctors work. Doctors benefit from spending more time with their patients to ensure that they are healthy. However, there are many shortcomings to this medical system, including higher expenses for hospitals, and an increase in doctors overtreating patients to ensure that they attain these metrics. I will specifically be analyzing how Banner Medical Group addresses the movement in healthcare towards value-based care and how it modifies its business model in order to account for these changes. I expect to find that the administration will place less pressure on primary care physicians to maximize their number of patients seen per day. Instead, Banner will most likely keep track of key performance indicators such as readmittance rates and the likelihood of patients to recommend physicians to others and motivate providers to reach higher bars in terms of these indicators instead of encouraging them to see as many patients as possible. My project will explore the transformation of medical care and how the medical industry can eliminate the extreme inefficiencies it has faced in the past.

Can Money and Medicine Mesh? The Impact of a Shifting Medical Industry Upon Doctors