When you ask Hospital for Special Surgery CEO Lou Shapiro about healthcare, it's obvious that he's passionate about one thing: value.
"When I look at value – as a professional in the industry and as a consumer – there's a lot of misunderstanding," Shapiro says. "Value is not about organizations getting bigger through consolidation. Value is not about how healthcare gets paid for. We're confusing all the different messages around value with what it really is."
Simply put, value means achieving the best possible outcome for patients at the lowest possible cost. For Shapiro, value-based care offers a solution to the current healthcare crisis. In a 2014 report from the Commonwealth Fund, the United States ranked last in healthcare access, efficiency, and overall efficacy among 11 other developed nations – even with healthcare expenditures consuming 17 percent of the nation's GDP. Musculoskeletal conditions, specifically, have become an enormous expense, particularly for employers. According to an estimate from the Occupational Safety and Health Administration (OSHA), musculoskeletal issues cost employers in excess of $20 billion per year.
To fix this, Shapiro has made it his mission to define and deliver value-based care to patients – both inside HSS and beyond.