STAT April 26, 2024
Hospitals and health care systems across the United States have long been expected to provide patients with high-quality, cutting-edge care and outcomes — while staying cost-effective. Their shared mission is to continue to improve the care they provide their patients; their shared responsibility is to do so without increasing costs by shifting from fee-for-service to value-based care.
Many negative trends that were happening before Covid-19 emerged, however, have escalated to a breaking point due to record inflation rates, workforce shortages and labor costs, drug costs, and reduced reimbursements.
Academic medical centers like the ones we work in face an even greater challenge, one that is rapidly becoming an existential crisis. These centers are designed to be engines of innovation based...
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