This week’s truth comes from Dave Chase. Dave is a venture capitalist, author, serial entrepreneur and a healthcare advocate; he also created Health Rosetta. Dave talks to us about his journey and the personal/professional truth that put him on the path of working to right the wrongs within the healthcare industry. Dave believes that we have, both. the best and worst qualities of healthcare in this country. The best showing up in the brilliance and care of our doctors and nurses, and the worst being the greed and corruption that exists within the system. He shines light on a lot of the myths about the industry and shares with us his 3Cs; a cost effective approach to health care.
Host: Dr. Seku Gathers
Guest: Dave Chase
Dave Chase - LinkedIn
Dave Chase - TEDx Talk
[4:04] Professional/Personal Truth: Learning that the healthcare system is broken. Dave spent the majority of his career on the technology side of the healthcare industry. He was under the impression that our healthcare was topnotch due to all of the money that was being spent and the passion of the teams he worked with. In his late 30s, he lost 10 of his friends for reasons mostly attributed to issues with the healthcare system. The death of his last friend was particularly hard for him because he saw first hand how the system failed her. It was a wake up call that called into question how he’d been apart of the problem and figuring out how was going to contribute to the solution.
[13:20] The 3 Cs: Dave breaks down his 3Cs, concepts that can be used to help minimize health care costs:
Care Team: necessary for both professional and non professional members; our conversation focuses on the professional. Creating a stronger atmosphere of self care for doctors and nurses; with all of the challenges that arise from the healthcare industry Dave mentioned there are record rates of burnout and suicide among these groups. The more cared for they are, the better care they can provide.
Community: Dave noticed that zip codes are bigger indicators of health outcomes than DNA codes. He says that healthcare starts at home and moves out from there: education, environment, access to opportunity, social services and mental health treatment. These are all things that could be and should be addressed, especially since they drive 80-90% of health outcomes.
Cost: he speaks highly of an organization that invested in preventative care for its team and in the local community. He says that cost savings would allow us to put more money back into these communities, that would help drive more resources towards health instead of the hospital.
[18:59] Opioid Crisis: Dave says that employers are the “unwitting enablers of opioid addiction.” Most people impacted by the opioid crisis are working individuals and their dependents. Most of us in the US have healthcare through our jobs and these benefits are paying for the opioids. Dave gives the example of back pain, the 2nd most common reason that people go to the doctor and the number one driver of opioid prescriptions and disability. While there isn’t any evidence that opioids truly help to lower back pain, they’re more easily covered than physical therapy.
[29:00] Health Insurance Brokers: Dave talks about how every company works with a benefits broker to put together their healthcare plans. He says the problem stems from the fact that these brokers position themselves as a buyers agent when, in reality, they act as a sellers agent. There are also issues with incentives and bonuses, Dave compares it to going through a lawsuit and having the other side pay for your lawyer. The underlying cost of healthcare hasn’t increased in 5 years but somehow prices are increasing. Dave says the most efficiency occurs when employers contract directly with hospitals and cut out the middle man.
[42:04] Yes or BS
Healthcare is better in Canada?
Dave Chase is living the American Dream?
Legal cannabis is a good thing?
Democrats care more about healthcare than Republicans?
Doctors make too much money?