By LOUIS FROLIO
In 1776, Adam Smith published, “An Inquiry into the Nature and Causes of the Wealth of the Nations” in which he introduced the “invisible hand” concept. Simply stated, Smith believed if you let self-interest rule the market, with no government intervention, everything will work itself out.
However, it turns out that problems plaguing the healthcare industry are beyond the “invisible hand.” Leading healthcare industry experts believe that the free market failed to come together and figure things out because the business models and incentives simply weren’t there. As a solution, the government injected itself into the mix in 2015, when the Office of the National Coordinator for Health Information Technology (ONC) released its Shared Nationwide Interoperability Roadmap 1.0.
The ONC roadmap addresses these issues first by providing a framework to promote better business models for healthcare, and second, by providing incentives via the Centers for Medicare & Medicaid Services (CMS) for those who adopt the ONC framework.
The roadmap is quite extensive but can be distilled to three core themes: