Healthcare's Future Post-COVID with Craig Garthwaite
Episode Overview
- COVID-19 has reshaped healthcare policies and practices. 
- Value-based care requires strategic integration and management. 
- Vertical integration is changing healthcare delivery models. 
- Innovative education methods are emerging post-pandemic. 
- Long-term investments in healthcare are crucial but challenging. 
If you really do want to get to a world of value-based care, we need to think about strategic integration and long-term investments.
In the premiere episode of Healthscape, listeners are introduced to Professor Craig Garthwaite from Northwestern University's Kellogg School of Management. As the Herman R. Smith Research Professor in Hospital and Health Services and Director of the Program on Healthcare at Kellogg, Professor Garthwaite brings a wealth of knowledge to the discussion, particularly focusing on the intersection of economics and healthcare policy. The episode delves into the profound and lasting impacts of the COVID-19 pandemic on the healthcare industry.
Professor Garthwaite shares insights on how the pandemic has accelerated changes in healthcare policies, highlighting the private sector's response to Medicaid and Medicare expansions, as well as the Affordable Care Act's influence on payer and provider sectors. A key theme of the conversation is the concept of value-based care. Professor Garthwaite critically examines this term, acknowledging its often vague usage, but emphasizing its potential to improve healthcare outcomes through better management of resources and patient care.
He discusses the rise of vertical integration in healthcare as a means to control costs and enhance service delivery, noting the development of narrow network products and risk management strategies. Professor Garthwaite also highlights the importance of innovative educational approaches in healthcare, particularly in light of lessons learned from the pandemic.
He discusses Kellogg's commitment to providing valuable in-person education while also exploring new, flexible online courses and formats to enrich students' learning experiences and prepare them for future challenges in healthcare. Overall, this episode provides a comprehensive overview of current and future trends in healthcare, emphasizing the need for strategic investments and adaptations in policy and education to ensure a resilient and efficient healthcare system. Professor Garthwaite's insights underscore the critical role of economics in understanding and shaping healthcare practices.
Listeners are encouraged to subscribe to the podcast for more insightful discussions on healthcare topics and visit the Healthcare at Kellogg website for further information.