X-Prize Foundation CEO Dr. Peter Diamandis

The X-PRIZE Foundation has generated a lot of attention recently by awarding substantial prizes designed to encourage innovation and entrepreneurship in areas from genomics to space travel. Earlier this week X-Prize announced they are extending the model to healthcare with a $10 million plus prize, intended to “catalyze dramatic improvements in
health and health care value in the United States.” (You can read the full release here.)  I talked with X-Prize CEO Dr.Peter Diamandis about what it means and what they expect to happen next. Not sure if blogs are eligible, but they should be!!

Peter Diamandis, CEO, X-Prize Foundation from Health 2.0 on Vimeo.

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  1. Peter is right, “if you can’t measure it you can’t change it”. Problem is; what’s the measure in health care ? That is one of the biggest challenges in the extant health care model. The highest quality care at the best cost still entails a scarcity paradigm: at some point the level of care provided to certain individuals does not generate an ROI for the overall system.
    Until consumers have an understanding on par with the system that delivers their care and until individuals are rewarded or penalized for behaviors that contribute to outcomes, the idea of “choice” is meaningless.