The Institute of Medicine is calling out health care and suggesting that we are slow learners and that we are slow to adopt innovation being used by other industry. The report by the Institute of Medicine found that when it comes to quality, outcomes, cost, and equity, health care falls short of other industries.
According to the IOM, Americans spend $2.6 trillion a year for health care and one-third, $750 billion, is attributable to waste.
Here are a few examples of innovation in other industry and how it compares to health care.
- If banking were like health care, automated transactions would take days rather than seconds because of unavailable or misplaced records.
- If home building were like health care, carpenters, electricians and plumbers would work from different blueprints
- If shopping were like health care, prices would not be posted and would vary widely within the same store.
- If automobile manufacturing were like health care, there would be no warranties for cars and no incentive to monitor and improve performance and product quality.
- If airline travel were like health care, each pilot would be free to design his or her own pre-flight check or not perform one at all.
Change comes hard and health care needs to change. There’s no question health care is too expensive and there are a lot of inefficiencies built into health care. Why reinvent the wheel? It may be wise to look to other industries to find ways to do things better.