Health Care Is Reforming, Just Not in Washington

As lawmakers in Washington continue their debate over how to modify the U.S. health-insurance market, health-care investors and business leaders around the world need to see past the political drama and run their businesses with a view toward improving value in health care. If they succeed, it will make a bigger difference for the cost and quality of care -- globally and for most Americans -- than whatever action is taken by Congress.

We've just finished a study involving 300 senior health-care executives from leading companies in health-care services, pharmaceuticals, biotechnology and medical devices, along with top investors in the field. And it's clear that they see big changes in the years ahead, driven largely by pricing pressure across the industry.