The decision has been made, yet much of Nashville is still wondering what the Supreme Court's historic move means for them. If you're into making money, Clayton McWhorter has something for you to think about.
"It's going to not only create opportunities for different delivery models, but it's going to create opportunities for those who are delivering care with innovation," McWhorter, chairman of venture capital firm Clayton Associates and former chairman of HCA, said in an interview this morning.
Think of it as a stimulus for the city's $30 billion health care industry, where new technology that focuses on quality over quantity will rule the day. For insurance companies, there are 40 million more potential clients. For tech companies, innovation will be accepted as hospital companies spread fixed costs over a larger pool of people.
But, McWhorter maintains, the simple assessment that the Affordable Care Act will create business opportunities for Nashville ignores a very important fact.
CEO's can control a lot of things — from computers to copiers — but keeping up with employee health care costs remains elusive.
In that way, anyone out there looking to help employers manage costs could find interest from the region's booming venture capital community.
McWhorter pointed to Brentwood-based PharmMD, which helps control prescription drug costs. Paying too much? Not using the drug right? PharmMD is the middleman in ensuring that process goes smoothly.
"All of our focus is on this bill and Washington and Medicaid and Medicare, but I'm telling you … CEOs and corporate America are really taking a long look at their health care costs," McWhorter said.
And no law will change that.
Source: Nashville Business Journal