4/7/2023 0 Comments Gravity payments jobsHowever surely if the price were sufficiently low, the cheaper price could compensate for the risk in switching. So even if their skills were exactly the same or were close substitutes, due to uncertainty, the university may elect to keep the more expensive lecturer to minimize risk. A university may choose not to replace Ed Learner with a cheaper lecturer because of the risk that the new lecturer would be worse. I think this applies to the example of the the university hiring of professors discussed in the interview. Consequently i think we tend to perceive the local clinic’s radiologists as less risky or more trustworthy than the Indian ones. On the other hand, even if we don’t know any of the local radiologists, we know that the local clinic depends on a positive reputation with our neighbors. We could go with Indian radiologists, but we don’t know much about them. I tend to think we do have an anti-stranger bias – as a rational way of minimizing risk. Moving ideas and information rather than physically will provide a new medical paradigm which will impact both cost and quality. On of the next steps in this arena will be remote surgeons driving surgical robots in the local hospital over the web to enable patients to increase their surgeon choices and to improve quality. The impact of globalizing medicine for productivity gains is gaining momentum. None- the-less, today we benefit from this top notch review of diagnostic tests in a cost effective manner – (these tests results can be reviewed by our on site Radiologists to support the concerns about having a stranger in India read the tests. One of the mitigations was to add these physicians to our medical staff and have their credentials reviewed by our Medical Staff Credentials Committee. We took steps to mitigate the negative impacts that Ed references regarding radiology. This gave us a great way to cover our downtimes which had become an increasing economic issue for the private practice radiologists here in NJ. We at Somerset along with other NJ hospitals did contract with a Radiology Group Practice in India to read our radiology tests during the overnight hours and on weekends. I am the former Chairman of the Board for the Somerset Medical Center and found the observations about Radiology practices interesting. Today’s podcast by Ed Lerner suggests that relationships will help define the extent to which organizations will globalize.
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