Published by:
Harvard Business Publishing
Length: 8 pages
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Abstract
Business leaders continue to blame the cost of health care for jeopardizing the global competitiveness of U.S. industries, and they continue to turn to Washington for the solution. In a study of 16 countries, the authors have discovered that health care costs do not directly hinder U.S. competitiveness. The real problem is employers'' hands-off approach to health care. Companies can control costs and improve health care delivery by treating health care like any other crucial component of production. The authors propose three strategies for managing health care delivery: intervening in the supply side of the health care market by creating a clinic or joining with other companies to procure health care; translating corporate health benefits into the most cost-effective set of services at the local level; and encouraging and educating employees to participate in decisions regarding health care delivery.
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Abstract
Business leaders continue to blame the cost of health care for jeopardizing the global competitiveness of U.S. industries, and they continue to turn to Washington for the solution. In a study of 16 countries, the authors have discovered that health care costs do not directly hinder U.S. competitiveness. The real problem is employers'' hands-off approach to health care. Companies can control costs and improve health care delivery by treating health care like any other crucial component of production. The authors propose three strategies for managing health care delivery: intervening in the supply side of the health care market by creating a clinic or joining with other companies to procure health care; translating corporate health benefits into the most cost-effective set of services at the local level; and encouraging and educating employees to participate in decisions regarding health care delivery.