Rice Business Partners: Incentivizing Hospitals to Reduce Cost and Improve Quality
How long did you wait in the ER last time you were there? Does it seem possible that traditional payment systems could play a role in excessive wait times? Join Professor of Operations Management Tolga Tezcan as he explains that the way hospitals are currently reimbursed does not provide the right incentives to do better, specifically in emergency medicine and readmissions. Tezcan argues that a payment method that ties the payments to hospitals to their relative performance compared to their peers will incentivize those hospitals to reduce not only costs but also wait times and readmission rates.