Lazard CEO and Chairman Peter Orszag Authors Guest Essay in The New York Times
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On December 16, The New York Times published a guest essay by Lazard CEO and Chairman Peter Orszag, “Why Both Republicans and Democrats Are Wrong About Health Care,” exploring the opportunities to reduce health care costs by tackling regional variation in physician decisions, outdated payment incentives, and billions in avoidable waste.
In the piece, Peter explains that the U.S. health care reform debate focuses too much on who pays, rather than on the underlying drivers of high costs. He argues that the real fix for U.S. health care is reducing unnecessary, high-cost treatments by changing physician practices and payment models, not just shifting who pays the bill. His proposed solutions include faster adoption of AI tools to guide evidence-based treatment, uniform malpractice standards that protect doctors following certified guidelines, and moving away from fee-for-service payment models toward bundled payments.
Read the full essay here.
