Within the world of healthcare IT, one name stands above the crowd. Drew Madden has spent more than 15 years in the field, helping to grow one firm from a small boutique consultancy into one of the largest and most powerful players in the healthcare space. Now, Madden has taken his years of expertise and channeled it into creating an entirely new paradigm in healthcare IT. His latest company is called Evergreen Healthcare Partners. And his firm is looking to shake up a cartel-run industry and change the world for the better.
The biggest industry is also the most expensive
In the world of business, there is a sharp distinction between an investment and an expense. Ideally, the business of healthcare should always be the former. Unfortunately, throughout the last few decades in the United States, healthcare has increasingly become nothing but a naked cost, with only questionable value being delivered.
And this is a serious problem for an industry that accounts for more than $1.5 trillion per year in government spending alone. Drew Madden says that the benchmark healthcare expenditures, representing real case-studies from actual OECD countries, are only a small fraction of this figure when adjusted for the size of the U.S. He says that the difference represents nothing but pure rent-seeking by monopolistic and cartelized capital. Madden says that this is an outrage to the public and should be reined in. But unlike many others who pay lip service to the idea of reducing healthcare costs, Drew Madden has some concrete ideas about how these reductions can be achieved.
But before anything can even start to get done, Madden says that more Americans need to recognize the full breadth of the threat that out-of-control healthcare costs pose to the nation. Health insurance costs have been recognized as a chief reason that many small businesses go bankrupt. And eventually, the largest business in the country, the federal government itself, will face the same fate if costs continue to rise far above GDP growth.
Madden says that the first step in fixing a problem is recognizing it exists. In the United States, it is high time that we all recognize the dire threat that healthcare-sector greed and rent seeking pose to the country.