More patient control over health care spending will lead to more price visibility and lower costs. But contrary to popular belief, legislation isn’t necessary to make prices more visible in the health care system. The most compelling reason for doctors and hospitals to post their prices would be because they are competing for patients’ money.
California senator and presidential candidate Kamala Harris just released her “Medicare for All” plan. Some claim her plan, which retains private insurance, is better than Bernie Sanders’s plan, which eliminates private insurance. But the economics of Harris’s plan shows that private insurance has no significant role in “Medicare for All,” even if it is advertised that way.
University of Chicago economics professor Casey Mulligan, fresh off his one-year stint as chief economist with President Trump’s Council of Economic Advisers, has an interesting comparison of Trump vs. Reagan on economic deregulation.
Many primary-care physicians continue to join multispecialty group practices, such as the Palo Alto Medical Foundation and Stanford Health Care, instead of working in their own solo practices or in practices with only other primary care doctors.
Health Saving Accounts (HSAs) are an effective and proven method of reducing healthcare prices for everyone, not just those with HSAs. When patients are motivated to compare prices, prices for everyone decline significantly. While HSAs are effective in making health care more affordable, they should be expanded and allowed with any healthcare plan.
The Working Group on Health Care Policy devises public policies that enable more Americans to get better value for their health care dollar and foster appropriate innovations that will extend and improve life.