Publications
Publications
- Forthcoming
- JAMA, the Journal of the American Medical Association
From Bupkis to Sechel in Health Care
By: Regina E. Herzlinger and Richard Boxer
Abstract
Fifty years ago, famed economist Milton Friedman declared that “The social responsibility of business is to increase its profits.” This free market manifesto was adopted by the healthcare industry as well. But transactional has evolved into transformational with the Environmental, Social, and Governance (ESG) movement with consumers demanding transparency in costs and quality. The government has responded with dated and inaccurate data at glacial speed. It is essential to be both accountable and responsive to consumers. Our solution is to utilize a successful agency as a template that will shine a bright light on an opaque system which serves the stakeholders rather than the consumer. The result will be improved quality and reduced cost.
Keywords
Corporate Accountability; Customer Focus and Relationships; Corporate Social Responsibility and Impact; Health Industry
Citation
Herzlinger, Regina E., and Richard Boxer. "From Bupkis to Sechel in Health Care." JAMA, the Journal of the American Medical Association (forthcoming).