Covid-19 has everyone talking about cost-benefit analysis. The President himself started the conversation with his notorious tweet, “We can’t have the cure be worse than the problem.” Fixing U.S. Healthcare blog has touted cost-benefit analysis as a key approach to taming the healthcare cost tapeworm. This week, columnist Tom Friedman and political philosopher Michael Sandel … Continue reading Covid-19 Shut-Down Is A Cost-Benefit Bargain
On the stump, many of the candidates are railing against skyrocketing drug costs. They promise at campaign rallies at the top of their lungs to “Bring down the cost of drugs.” This blog, however, claims that it’s not only about costly drugs. It’s the whole system that is rigged and has high costs baked into … Continue reading It’s Not Just About Costly Drugs – It’s Testing, Too
Fixing U.S. Healthcare blog has made the case for reform that reins in spending in the whole system. But where possibly to start on such a massive undertaking? Here are four ideas. Klein’s “Muddling incrementalism” Redefining Price’s “essential benefits” using Oregon-style cost-benefit analysis Rosenthal’s “Salami strategy” Emanuel’s “low-hanging fruit” Let’s look at each one. Idea #1: … Continue reading Healthcare Reform: Where to Start?
Noted surgeon and social-medical commentator Atul Gawande MD hosted a video roundtable in 2014 entitled “Avoiding Low-Value Care.” His panel seemingly challenged the idea that low-value care can be avoided, which is the crux of the cost-benefit approach to healthcare reform. But on closer look Dr. Gawande and panel may actually, in fact, be validating … Continue reading Doctors Critique Oregon-Style Cost-Benefit Approach to Healthcare Reform . . . But Not So Fast!
Economist Peter Orszag, who blogs regularly on the economics of healthcare, recently highlighted a survey of healthcare CEOs conducted by his firm Lazard. The survey showed that these CEOs see that “Healthcare is reforming, just not in Washington.” Business (small and large) is rightly fed up with Washington’s petty partisan tinkering with the healthcare system. … Continue reading Response to Peter Orszag: Efficiency Is Not Enough!