Rising Medical Solutions provides five solutions to change America's healthcare system

Sep 1 2009

Controlling healthcare costs seems like a complex issue but one expert points to an age-old economic model to save our nation billions of dollars.

The answer, according to Jason Beans, CEO of Chicago-based Rising Medical Solutions, is neither a nationalized system nor our current system. Beans says change exists in a different direction.

"People debate whether it should be HMOs or PPOs or a government-run system, which we've witnessed with Medicare - these are the same things that have been done before and haven't worked effectively," says Beans. "We need to rethink these models and incorporate what's worked in every other industry and that is consumerism, where the consumer actually shops for the services."

If healthcare operated under a competitive, supply and demand model, Beans asserts the system would have solved for its inefficiencies already. "Every other industry is forced to innovate while driving costs down," says Beans. "Why should healthcare be different?"

Beans' alternative solution to the government's proposed reform airs nationally on CNN and Fox Business News through a special produced by The Economic Report. Beans cites five ways to get healthcare on the right track and slash billions of dollars from the system:

• Consumer choice
• Competition amongst healthcare providers
• Upfront pricing
• Transparency in quality of care
• Technology

"On average, U.S. hospitals spend 25% of their budgets on billing, collections and administrative expenses - that should be down to around 10%," says Beans. "By using technologies that already exist today, you can cut those costs by 15%, so the hospitals are more profitable and the costs are lower which is better for everyone."