HLM: So is that where government comes in and says you will do it? Does that make any sense? A lot of people say that's the worst solution.
Wasden: So I was with the chief medical officer for CMS, and I was talking about all these issues, and he asks me, how do we get more rapid adoption of mobile health solutions? If you look at a mobile health technology, versus a traditional clinical technology, a mobile health technology generally costs one tenth, so you can eliminate 90 percent of the cost of the device by moving it to mobile versus the traditional model.
HLM: There's a lot of things you can do with these devices.
Wasden: My recommendation: Stop paying more for the old way versus the new way, and pay a lot less for the new way than for the old way. So if you want doctors to adopt a mobile health solution which has the potential to be a third to a half less costly, then pay a third to a half as much for that solution, and pay even less for the old way, and you'll get immediate adoption.
Doctors don't want that! Hospitals don't want that! I worked with the CEO of one of the largest academic medical centers in the country, and they did an exercise where they looked at all of the unnecessary testing that they did, to see if they could eliminate it.
What they found is if they eliminated unnecessary testing, they would go bankrupt. Our entire healthcare system is based upon unnecessary testing. It is! We have new technologies that can easily eliminate a third to a half the cost of healthcare, that we provide no incentive or support to adopt, and so in the absence of all that, what's going on? Consumers are adopting it. Payers are adopting it. Employers are adopting it.
Physicians and hospitals will be the slowest to adopt.