X Prize, WellPoint Announce $10M Contest To Develop Proposals To Improve Health Care Quality, Reduce Costs

Main Category: Health Insurance / Medical Insurance
Article Date: 17 Oct 2008 - 5:00 PDT

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X Prize Foundation and WellPoint have announced an open competition to develop a system of proposals to improve health care quality and reduce costs, with the winner to receive a prize of at least $10 million, the AP/San Francisco Chronicle reports. X Prize will manage the competition, and WellPoint will provide the prize. Competition organizers plan to finalize the details of the contest by early next year. As part of the competition, which could take several years, WellPoint will test proposals from finalists in state markets. The proposals must prove effective for finalists to qualify for the prize.

X Prize CEO Peter Diamandis said, "Reinventing and rebooting the U.S. health care system is not to be taken lightly," adding, "It's an audacious task but, we think, very achievable." Robert Zirkelbach of America's Health Insurance Plans praised the competition, adding, "I think to be able to address all the health care challenges facing the nation, we need to bring all the stakeholders together."

Jerry Flanagan, health care policy director for Consumer Watchdog, said, "What the insurance companies are trying to do is define the health care debate in terms that benefit them or at least keep them in the game" (Murphy, AP/San Francisco Chronicle, 10/15).

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