Quad/Graphics, the American printing company, was founded near Milwaukee, Wisconsin in 1971 by a husband and wife team. Harry and Betty Quadracci saw advantages in a family approach to doing business coupled with a long-term outlook and a willingness to innovate. Today, Quad/Graphics is a $4B company with facilities all over the US and around the world.
The news that Amazon, Berkshire Hathaway and JP Morgan Chase joined forces to create their own healthcare company rocked the industry. The ten largest health insurers and pharmacy businesses lost $30B in market value in two hours.
Heavy rain drenched San Francisco the first day of JP Morgan’s 36th Annual Healthcare Conference. Many reported seeing Noah building an ark in Union Square. The “big ship” metaphor carried into the conference. Healthcare giants across all sectors are scaling up to withstand transformational pressures while driving toward better outcomes, lower costs and more consumerism.
In the mid-1800s, English philosopher and political economist John Stuart Mill developed “Utilitarianism,” a framework for making moral decisions. In Mill’s formulation, an action achieves optimal social utility when it advances the well-being of the most people, i.e. “the greatest good for the greatest number.”
In 1919, journalist John Reed published Ten Days that Shook the World, a first-hand account of the October 1917 Russian Revolution. During that dramatic 10-day period, Vladimir Lenin’s Bolsheviks took control of the Russian government and established the world’s first socialist government. Russia and the world would never be the same.
Lexington, Concord and Medicaid Drug Formularies: Massachusetts Fires Another “Shot Heard Round the World”
On the 19th of April in 1775, a ragtag Massachusetts militia confronted the mighty British army in search of Colonial munitions and rebellion leaders. The Battle of Lexington and Concord marked the first military engagement between American revolutionaries and their British colonizers. The Americans carried the day and began their long arduous march toward independence.
Poet Ralph Waldo Emerson captured the battle’s mythical meaning to American patriots at the July 4, 1837 dedication ceremony for the Battle of Concord memorial. In his “Concord Hymn” Emerson wrote:
Common wisdom holds that “it’s easier to catch flies with honey than vinegar.” That aphorism also applies to payers seeking lower prices for routine healthcare procedures. It “tastes” better when providers attract new customers with “bottom-up” high-value services than when payers hammer providers through “top-down” payment reform.
Having failed to “repeal and replace” the Affordable Care Act, House and Senate Republicans have set their sights on reforming the U.S. tax code, a daunting undertaking that hasn’t occurred since the mid-1980s. Their principal objective is to reduce the corporate tax rate from its current level of 35% to 20%.
Co-authored with Richard Jones, president and CEO of Essence Healthcare, one of the nation’s first accountable delivery systems and a consistently high-rated Medicare Advantage Prescription Drug (MAPD) health plan.
Earlier this year, the Choosing Wisely campaign celebrated its 5th anniversary. Choosing Wisely is a well-funded, practice-focused organization created to reduce “wasteful or unnecessary medical tests, treatments and procedures.”