On stage at CB Insights’ Future of Fintech Conference Mario Schlosser tore into hospital CEOs for chasing profits:
“There are some hospital CEOs who want to ride the fee-for-service gravy train all the way against the wall. And whether the wall will be antitrust or regulation or consumers voting with their feet because there are enough of these healthcare cost inflations … I don’t know, but that wall is going to be there. They want to milk this thing for all it’s got.”
Health insurance companies, he explained, make 2-3% margins. But it is provider pricing that starts the ball rolling on the high cost of healthcare in the US.
By working with Osca and its fee-for-results rather than fee-for-service system, hospitals can get paid for keeping their ERs and beds empty, instead of only getting paid for services rendered.The result is a lower-cost system:
“[The] member loves it, [the] provider loves it, Oscar loves it.”