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Dr. Toby Cosgrove, Cleveland Clinic president and CEO, on the health-care industry and how to handle the aging population.
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-- from -- -- the world are gathering in Davos Switzerland.
For the World Economic Forum in our lives claimant is there Liz.
Hi Shibani and Charles here in Davos every year there's a theme of this -- steamy is shaping new models to achieve sustainable growth.
That would health care at the goal is a little bit the opposite -- tried to cut back on growth and spending and here with an example perhaps the best not only in America but also -- in the world.
Of how to cut back on spending but still -- great care is doctor Toby Cosgrove with the Cleveland clinic thank you for being here my pleasure.
If you are -- model to be held up you've cut back on the spending get you are one of the world leaders in the best health care.
-- the number one thing that the Cleveland clinic has done that could be sort of followed everywhere else in the world.
Well one of things we do as we employ all the positions and or all salaried.
And that salary means that there's no incentive for us to do more work to do less for the patient we just do what they need and that reduces the amount of extra tests -- -- procedures etc.
and keeps costs down.
If your world what's the most interesting idea that you heard here at the World Economic Forum.
What we're looking at different ways to try and -- to deal with populations the population getting older.
-- in Japan has got an existing model and I just listen to thoughts about.
How we're going to balance the population so we don't have so many older people that we have to look after -- -- -- one of the things they suggest its immigration.
Because on company countries that do not have.
A older population like Mexico.
Have got a lot of younger population and you bring those and and they Begin to bounce off your population interest and that's what's happening in Southern California.
I DS.
That come out of here what are the trends that we've seen in health care I don't know whether it's since the -- thing.
The American health care system has changed under President Obama or not but -- people are not going to hospitals as much for -- search.
-- trip.
We've seen a reduction in the number of patients across the United States in the hospital by about one meant that have to 2%.
Over the last couple years.
For example.
We have seen that continually go down enough for the last two or three years in fact -- that has influenced the rate of inflation.
The health care costs the -- -- inflation has been reduced.
By half over the last seven years.
What's the next trend I mean can you protected and see -- some people say it's that the center of health -- gravity.
Will leave the hospital and go to home health care.
As far as our question what's happening is of the health care in the hospital is going to outpatient care which is going to home here -- that sort of a natural trend.
Because the baby boomers now -- they're not getting their knees replaced now they're dealing with chronic diseases -- -- disease can be taken care result patients instead of having fix their knees so they can continue to run.
The president's State of the Union Address.
-- surprise some people that he did mention health care at all surprised me tremendously as this continues to be a major issue.
In the United States we're going to see the Supreme Court deal that we may see changes coming out of the election depending on -- -- presidential.
Election and I was very surprised that -- health -- Half of the deficit.
Problem in the United States there's no mention of well it didn't think that the mandate that that mandate that every American has to buy insurance -- You know I -- really can't just from how the Supreme Court cruel act -- if I had to guess I would guess it probably would.
I think the thing is concerning know.
Is the penalty for not ensuring your employees.
Is much less than it would cost to insure them so you may see major or even small employers.
Decide that they're gonna save money by not it ensuring their employees and -- -- back into the that Medicare Medicaid.
Issues oh boy that's that could be a real problem.
Who -- changed the whole balance right now a 50% of the health care costs.
Hospitals C comes from government paid.
It may go as high as 70% of think like that happen.
Toby Cosgrove for the Cleveland clinic thank you so much for -- hiding -- from my pleasure.
-- about it Charles back to you thanks a lot.
