Last week the members of the Forney Chamber of Commerce gathered for their first monthly luncheon of the New Year and were educated on several pitfalls within the health care industry by Health Economist Devin Herrick.
First speaking about his career as a Health Economist, Herrick said “I was a Senior Fellow with the Dallas based National Center for Policy Analysis for about twenty years. I’m now semi-retired although I still enjoy writing and speaking about health care.”
Moving on to describe the high costs associated with many of the popular drugs, tests and procedures prescribed by doctors, Herrick explained that the most powerful tool in the medical care profession is the doctor’s pen.
Addressing the crowd Herrrick asked “Does anyone have any idea what the most expensive medical technology out there is? Could it be a kidney implant or a knee implant? This is a fair question."
When no one responded, he held up an ink pen and said "The most expensive technology looks a lot like this. To be more specific, this is a physician’s pen. Three trillion dollars’ worth of health care flows through physician’s pens every year. Every medical service must be ordered by a physician or authorized by a physician, so that’s why they say the most expensive medical device is the physician’s pen. If we could enact beneficial incentives on how that pen is used, it could save us a lot of money individually as well as collectively.”
Written by: Denise Bell