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  • JAMA, the Journal of the American Medical Association

From Bupkis to Sechel in Health Care

By: Regina E. Herzlinger and Richard Boxer
  • Format:Print
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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).

About The Author

Regina E. Herzlinger

General Management
→More Publications

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More from the Authors
  • A New Model for Funding Healthcare Innovation By: Regina E. Herzlinger and Duke Rohlen
  • Parexel: Scaling Up and Industry Dynamics By: Regina E. Herzlinger and Ben Creo
  • Epic: The Future of Health Information Technology By: Regina E. Herzlinger and Brian L. Walker
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