FHC #147: Game theory and healthcare—the complex relationship between doctors, payers and patients

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Dr. Jonathan Fisher, pictured, is quoted as saying "In healthcare, the spiral of resentment and frustration often leads to a lose-lose situation."

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This Unfiltered episode of Fixing Healthcare features Dr. Jonathan Fisher, a respected cardiologist and advocate for physician well-being, and Dr. Robert Pearl, healthcare leader and author of ChatGPT, MD. Jeremy Corr, CEO of Executive Podcast Solutions, adds the patient’s perspective, as always.

In this episode, the trio takes a deep dive into the intriguing applications of Game Theory in healthcare. Dr. Pearl introduces Game Theory—a concept that analyzes how individuals or groups make decisions in competitive situations—drawing from its use in business to better understand interactions between physicians, insurers and healthcare organizations.

Today’s topics include:

  • Game theory and healthcare economics: Dr. Pearl explains how Game Theory can help reframe the often adversarial relationships between doctors and insurers, exploring ways to move from lose-lose situations to more collaborative, win-win outcomes.
  • The role of autonomy: Dr. Fisher explores the inherent conflict between physician autonomy and collective decision-making, noting how the fragmented nature of healthcare impacts both patient outcomes and physician satisfaction.
  • Collaboration vs. competition: The group discusses the need for healthcare professionals to shift from tribalism and competition within and between specialties to a more cooperative approach that benefits patients.
  • The prisoner’s dilemma: Dr. Pearl introduces this classic Game Theory scenario to illustrate the difficult choices doctors face when limited healthcare resources force tough decisions about patient care.

To discover more, press play and check out these helpful links:

New book: ‘Just One Heart’ (Jonathan Fisher)

New book: ‘ChatGPT, MD’ (Robert Pearl)

Monthly Musings on American Healthcare (RobertPearlMD.com)

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Fixing Healthcare is a co-production of Dr. Robert Pearl and Jeremy Corr. Subscribe to the show via Apple Podcasts or wherever you find podcasts. Join the conversation or suggest a guest by following the show on Twitter and LinkedIn.