When asked to state the primary goal of his business, Dr. Slez cited “high quality health care service” as the firm’s main objective. The effective treatment of, and development of trust with, the practice’s patients, Dr. Slez continued, takes precedence over profits. Indeed, if all healthcare firms placed profits above patient care (and many do) we would be far worse off. While doing what is needed to stop the spread of a disease or alleviate pain may not always be the most cost effective approach, it is the approach demanded by the government and general public. This is not to say that Dr. Slez’s firm does not try to maximize profit. The f...
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...d about the economic nature of new technologies, Dr. Slez emphasized that “costs almost always increase with new equipment”. When deciding whether or not to adopt a new technology, Dr. Slez cited cost of implementation, industry standard, and efficacy relevant to the current market as his primary considerations. “If a treatment costs more but is no more effective, we won’t adopt it” he continued. Technology, as with all other aspects of the firm, must be consistent with that firm’s goals; excellent care at an affordable cost.
Overall, the interview allowed me to apply the concepts covered in class to a real world scenario. Dr. Slez was happy to discuss the nature of his business, and did so clearly and concisely. The experience has deepened my knowledge of both the health-care industry and the free market system as a whole, and I hope to learn more in the future.
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