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stedman hood

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Jul 2 · twitter

why didn't they just monetize with ads?

they could've tracked users' browsing history and deliver pretty impressive targeting

I'd much rather see some targeted ads and keep using FakeSpot - sad https://t.co/sgfNSr4mVc

Aug 30 · linkedin

If I were running a hospital like a tech startup, here's what I'd change to reduce costs (and increase profitability)

𝟭. 𝗕𝗲𝗰𝗼𝗺𝗲 𝗮𝗻 𝗲𝘅𝗮𝗰𝘁𝗼 𝗯𝗹𝗮𝗱𝗲, 𝗻𝗼𝘁 𝗮 𝗦𝘄𝗶𝘀𝘀 𝗔𝗿𝗺𝘆 𝗸𝗻𝗶𝗳𝗲

Startups win by doing ONE thing exceptionally well.

I'd specialize hard. Maybe even ditch the "hospital" model entirely and run a focused clinic like Simon Med Imaging.

𝟮. 𝗚𝗼 𝗮𝗹𝗹-𝗶𝗻 𝗼𝗻 𝘃𝗮𝗹𝘂𝗲-𝗯𝗮𝘀𝗲𝗱 𝗰𝗮𝗿𝗲 (𝗩𝗕𝗖)

Fee-for-service would NOT be my approach. I'd only contract with value-based plans and build every intervention around that model. We'd focus on outcomes, not procedures.

𝟯. 𝗦𝗮𝘆 "𝗻𝗼" 𝘁𝗼 𝗳𝗲𝗲-𝗳𝗼𝗿-𝘀𝗲𝗿𝘃𝗶𝗰𝗲

By focusing solely on VBC, we'd win more contracts and have the courage to turn away fee-for-service plans.

Now... you might be thinking: "Can hospitals even turn patients away?"

They can - with some caveats.

By law, emergency treatments must always be treated. But for non-emergencies, hospitals can refuse based on:

· Capacity issue · Resource limitations · Or even financial considerations [1]

Is this approach controversial? Yeah.

But one thing's for sure: our current system is a Frankenstein's monster of misaligned incentives and bloated costs.

We can keep slapping Band-Aids on a gushing wound or start thinking like startups and make real changes.

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