CFO Magazine Urges Fortune 500 Firms to Explore Cost Savings Via Alternative and Integrative Medicine

A fine article by John Weeks at Huffington Post, well worth reading in its entirety.

CFO Magazine would seem an unlikely source of cheerleading for more inclusion of complementary and integrative medicine practices and providers into U.S. health care delivery. Yet the magazine that targets chief financial officers (CFOs) of Fortune 500 firms has been shaking those pom poms in recent months.

There is a smart economic alignment that connects these stakeholders at the economic hip. They may even be a perfect marriage, as one writer recently put it.

An October CFO Playbook on Health Care Cost Management webinar featured the medical doctor who chairs the most significant lobbying group for integrative health care, the Integrative Healthcare Policy Consortium. The presentation from Leonard Wisneski, M.D., was assertively titled “Integrative Medicine: The Future of Health Care Delivery.” Wisneski, a former medical officer for a large employer, urged extensive piloting of integrative approaches for their cost-saving possibilities.

Early efforts to integrate complementary and alternative medicine therapies and practitioners with conventional delivery — later called integrative medicine — taught us a hard lesson. Hospitals weren’t going to make money with “CAM” the way they do with high-priced services like interventional cardiology.

Rather, the big money in complementary and integrative medicine fields and their preventive and health promoting focus that CFO Magazine’s McCann notes is not in churning services. It is in saving money by limiting services. Use of lucrative interventional cardiology services may be reduced. Hospital business models typically don’t like this. Employer business models do.