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You are here: Home / Featured / Eli Lilly CEO Details Steps to Drive Down Health Costs

Eli Lilly CEO Details Steps to Drive Down Health Costs

Eli Lilly CEO David Ricks in an article published on Fortune says an outdated health care system using outdated methodologies is doing little to stymie ever-growing health care costs.

“Today, our primary challenge is to help people live independently with mostly chronic illnesses over a long period,” Ricks writes. “Yet we continue to pursue that task with the same high-cost, high-touch tools that were built in a different era for a different job.”

Touting the role digital technology plays in health care, Ricks said an “efficient network” must be developed to “unleash the power of today’s technology.” To develop such a network, he writes, the industry must:

  • Digitize everything;
  • Empower consumers; and
  • Pay for value.

“In nearly every industry, consumers have been the catalysts for reducing costs and improving quality,” Ricks writes. “That hasn’t happened yet in health care – because it’s nearly impossible to get meaningful cost and quality information before receiving treatment.”

To read Ricks’ full article on Fortune, click here.



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