Becker's Healthcare November 14, 2023
Healthcare is kind of like cereal, according to a Nov. 13 LinkedIn article by Robert Pearl, MD.
Dr. Pearl — the former executive director and CEO of the Permanente Medical Group, and current co-host of the podcast “Fixing Healthcare” — alleged that the healthcare industry is engaging in similar practices as packaged-good companies. Rather than continuing to raise costs, food companies started providing less product for the same price and hoping consumers would not notice: hence the air-filled chip bags and cereal boxes.
This “shrinkflation” — the practice of reducing a product’s size but retaining its same price — is also a problem in healthcare, according to Dr. Pearl. Medical spending in the U.S. took up 6.9% of...
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