SAVING LIVES OR SAVING MONEY? UNDERSTANDING THE DUAL NATURE OF PHYSICIAN PREFERENCES

Saving Lives or Saving Money? Understanding the Dual Nature of Physician Preferences

A longstanding literature has highlighted the tension between the altruism of physicians and their desire for profit. This paper develops new implications for how these competing forces drive pricing and utilization in healthcare markets. Altruism dictates that providers reduce utilization in response to higher prices, but profit-maximization does the opposite. Rational physicians will behave m...

Saving money, saving lives.

In 1996, Duke Children's Hospital was in serious trouble. Its $11 million annual operating loss had forced administrators to make cutbacks. As a result, some caregivers felt that the quality of care had deteriorated. Parents' complaints were on the rise. Frustrated staff members were quitting. In this article, Jon Meliones, DCH's chief medical director, candidly describes how his debt-ridden ho...

The M77 Highway: saving lives and money.

Upgrading of a stretch of the A77, a major road in South West Scotland to Highway status has resulted in a significant reduction in the incidence of serious and fatal road traffic accidents on a major international route. Notwithstanding the pain and suffering prevented, the annual economic savings amount to over pound 6.1 Million ($12.14 M/euro 7.96 M) The Highway, with an effective central re...

Saving lives or sustaining the public's health?

Electronic Medical Records: Saving Trees, Saving Lives

CONSIDER THIS IRONY OF MODERN LIFE: IN A MEDICAL CRISIS, EMERGENCY physicians would have an easier time accessing a patient’s bank account using his or her automatic teller machine card than they would finding critical medical history using his or her medical insurance card. Medical records, including crucial electrocardiograms, drug allergies, or medical conditions, are typically stored on pap...