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HEALTH CARE REFORM
A 300-Year-Old Solution to the Health Care Crisis
George A. Diamond, MD;
Sanjay Kaul, MD;
William E. Boden, MD
Arch Intern Med. 2009;169(11):1019-1021.
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| Since this article does not have an abstract, we have provided the first 150 words of the full text and any section headings. |
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[A] company that must pay for disaster gains both incentive and opportunity to forestall it.
Michael Kaplan and Ellen Kaplan1
The Great Fire of 1666 transformed the city of London, England, in ways that provide important insights regarding the cost and quality of health care today. Before the Great Fire, there was no such thing as fire insurance. Yet as soon as the smoke cleared, enterprising entrepreneurs realized that Londoners were willing to pay dearly for reassurance that their homes could be replaced if another devastating fire were to occur. Within a year, the first-ever fire insurance policies went on sale, and by 1687, the market was dominated by 2 rival businesses, each of which petitioned King James II for a monopoly.
Rather than choose between them, James crafted a Solomon-like solution. He granted each a monopoly on a . . . [Full Text of this Article] LESSONS FOR HEALTH CARE
CLINICAL PERSPECTIVE
QUALITY AND COST IMPROVEMENTS
AUTHOR INFORMATION
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