Dr. Albert Waxman, the CEO of venture capital firm Psilos Group, spoke at The Deal's Healthcare Dealmaking Symposium about ways to control healthcare costs.
"There are 10 to 15 things that [the government] can do to radically control costs. ... Waste is a huge issue. Chronic care, unnecessary procedures and the like are going to have to be addressed," Waxman commented. "I don't mean to be Polly Anna-ish, but it's hard to be in the industry and not see that 30% of the money is wasted.
Continue reading below
"We spend too much money on healthcare, and it's going to take serious work to change the system," he continued. "But you've got to go through the process of the congressional sausage factory and see what comes out of that.
"I agree that it's hard to ask the government to manage anything, but our economy is dependent on fixing this problem," Waxman suggested. "They have to make an educated attempt at healthcare reform, not a political reform." - George White
See earlier comments on Obama health reform from Apax's Gumina
