10 | BEST DOCTORS
WHAT IT DOES:
Best Doctors is an international clinical advocacy group that ensures individuals receive the correct diagnosis by providing data as part of employers’ health benefits. HOW IT GREW:
When people talk about decreasing the cost of healthcare for employers, the measures considered can involve slashing employee rolls and lowering the quality of insurance offered. Best Doctors has seen its revenue jump over 90% from 2008 through 2011 (from $63.7 million to $121.2 million, respectively), by offering another option: making the healthcare received more accurate, and therefore more effective and efficient.
“We provide a data set that helps people make sure they’re getting the right diagnosis and treatment. We are totally dedicated to making sure people get the right care,” says Evan Falchuk, Best Doctors’ vice chairman. “We are changing the way people think about healthcare to have it focus on doing what’s right, and taking the guesswork out of it.”
As Falchuk and his colleagues at Best Doctors see things, the national conversation about healthcare is largely missing the point. Amid the noise, Best Doctors issues a clarion call for a focus on correct diagnoses.
“The world of healthcare is changing, and people are starting to realize the major problem plaguing our healthcare system is people not getting the right diagnosis,” Falchuk says.
Best Doctors, Falchuk says, offers a solution to that problem, and the company has been growing because it provides something vital to the industry. The company covers about 30 million people worldwide, and it continued to enjoy record growth in 2011. A recent news release attributed the company’s growth to Best Doctors’ “unique ability to overcome the world’s troubled healthcare systems.”
Last year proved successful for the company in its mission to make sure people receive correct treatment. In 2011, the company reported it had corrected or refined diagnoses in 29% of its U.S.-based cases and corrected or improved treatment in nearly 60% of cases.
While Best Doctors’ goal is to ensure proper diagnoses, company officials say the secret to its success is driven by its ability to save companies money.
“Our clients include a growing number of Fortune 500 companies. They like what we do because it is a pro-employer, proemployee, patient-centric system that helps them spend their healthcare dollars wisely,” Falchuk says.