Today, the Nashville
Health Care Council hosted member executives for a conversation with Dr.
Uwe Reinhardt, Ph.D., James Madison Professor of Political Economy
at Princeton University. Senator William H. Frist, M.D. facilitated
the discussion on measuring value in health care.
“There are many schools of thought about how to effectively measure
value in health care. This issue is compounded by the idea that each
contributor – for example, patient, economist or provider – has a
different definition of value in mind,” Reinhardt said.
Reinhardt pointed out that the industry is moving toward pricing
transparency and discussed the need to eliminate unnecessary
administrative costs in health care as one way to reduce waste in the
system. “The government can be an important facilitator in this effort,
but we need great entrepreneurs, like many of the people in this room,
who know how the system works and can develop new ideas to make health
care more efficient,” he said.
Nearly 300 Council executives heard from Dr. Reinhardt, who is
recognized as one of the nation’s leading authorities on health care
economics. He is a past president of the Association of Health Services
Research and served as a commissioner on the Physician Payment Review
Committee, established by Congress to advise it on issues related to the
payment of physicians.
“Nashville Health Care Council members represent the many different
sectors of the industry – all of whom are impacted by this topic. The
leaders in this community, both established and early-stage
entrepreneurs are uniquely positioned to make a difference in the health
care value discussion. It’s an exciting time to be in health care,” said Frist.
event photos on Flickr.
Photo credit: (c)
2014, Paul Wharton Photography.
The Council hosted Reinhardt in Nashville in conjunction with the
Fellows initiative, the Council’s premiere educational program providing
senior executives with a forum for thought-leadership and strategy
around the future of health care.
“The Council continues to offer one-of-a-kind opportunities for our
member executives to hear from nationally-recognized speakers like Dr.
Reinhardt on current topics affecting our industry,” said Council
President Caroline Young.
Today’s program was presented by BlueCross
BlueShield of Tennessee. Supporting sponsors were Bass,
Berry & Sims, Cressey
& Company, LifePoint
Hospitals and SpecialtyCare.
About Dr. Uwe Reinhardt
Uwe E. Reinhardt, Ph.D., is James Madison Professor of Political Economy
at Princeton University. Recognized as one of the nation’s leading
authorities on health care economics, Reinhardt has been a member of the
Institute of Medicine of the National Academy of Sciences since 1978. He
is a past president of the Association of Health Services Research and
served as a commissioner on the Physician Payment Review Committee,
established in 1986 by Congress to advise it on issues related to the
payment of physicians. He is a senior associate of the Judge Institute
for Management of Cambridge University and a trustee of Duke University
and the Duke University Health System.
About the Nashville Health Care Council
The Nashville Health Care Council, founded in 1995 as an affiliate of
the Nashville Area Chamber of Commerce, is an association of health care
industry leaders working together to further establish Nashville’s
position as the nation’s health care industry capital. Worldwide,
Nashville’s health care industry generates more than 400,000 jobs and
$70 billion in annual revenue. The industry is Nashville’s largest and
fastest growing employer. For more information on the Council, please