The Case for McMedicine

Arnold-

You are finally speaking my language on healthcare reform.

But I think the model that would develop is not McMedicine, but something more along the lines of the financial industry.

For managing your personal finances, you have several choices. One, you can do it yourself. From diagnosis of your financial needs ie savings, insurance, investment strategy, to actual investment selection. Think individual stock = individual doctor. Individual mutual fund = individual practices that specialize in particular areas. Fund family = hospital center with every practice under one roof.

Two, you can go with a broker. Broker = doctor tied to a hospital or healthcare group.

Three, you can go with an individual investment advisor. Think not a doctor, but a professional who reviews doctors, practices, and hospitals and for some sort of retainer fee, helps you make your medical selections and monitors the care that is being provided.

Four, you can go with a financial planner. Think of this as a healthcare coach. They would likely help you not only with specific medical issues, but also with exercise regimes, and other holistic/lifestyle concerns.

The last two especially, investment advisors and financial planners, but brokers too, are not necessarily CPAs or CFAs with highly technical skills in analyzing company balance sheets but instead have a better big picture understanding of investment strategy and monitor/execute implementation on behalf of the client. A similar model would be highly effective in healthcare too.

You should also mention the negative impact on healthcare provision that the whole medical educational process has. The monopoly that the Boards have on restricting who can or can't practice medicine and what requirements are necessary destroys the possibility of competition.