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At The Deal's Healthcare Dealmaking Symposium a morning panel discussed the necessary changes President Obama must undertake to successfully reform healthcare in the U.S. Most participants agreed that containing costs was of the utmost importance.
Dr. John G. Hunter, a clinical associate professor of surgery at Weill Cornell Medical College, speculated that it is "conceivable that we may see universal healthcare by the end of [Obama's] first term. "But the problem is that the current rate of inflation of healthcare costs is unsustainable and there's nothing on the horizon that looks like it's going to stop that," he continued. "Quality improvement is not going to solve the problem of the growth of healthcare spending." Oliver Marti, a managing director at Columbus Circle Investors, added, "I'm skeptical of the government's ability to pull this off. The reality is that the proposal is just a start, and something has to be done. Obviously, we have a Democratic Congress so that increases the chances of something happening. "Obama isn't taking money out of the system; he's just shifting it," he continued. "The government proposal is not taking fat out of the system." However, Dr. Albert Waxman, the CEO of venture capital firm Psilos Group, was more optimistic. "The prospects for healthcare reform have taken a very big first step with a $670 billion down payment," he said. "It's a great opportunity to succeed, and it needs to succeed. The question is whether it will go forward with compromise [between the parties]. I agree that it's hard to ask the government to manage anything, but our economy is dependent on fixing this problem." - George White See earlier comments on Obama health reform from Apax's Gumina Categories Deal Video
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