Bob Galvin revisits the state of payment reform

July 22, 2022

Suzanne calls up Bob Galvin, CMO of Blackstone and chairman of CPR’s board of directors, to follow up on their previous discussion on the state of payment reform. So where are we at? Progress is slow, yet steady — we’ve had rain delays, changing pitchers, changing managers, but the game isn’t over.

“It’s hard getting through, inning by inning when you’re creating something from a blank slate.”

All is not lost, “I could list 10 or 15 [hospital] systems where you really do have quality improvement, but I think where we’ve gotten hurt pretty much across the board is, we just haven’t gotten at the affordability.”

So what’s the answer? “Figuring out some ways to help regulate the market…government intervention in the market. I want to be quick to say that I’m not talking about a single-payer system, I’m not talking about price setting, but I’m talking about two things. I’m talking about one, making markets competitive…and doing something about price…”

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