AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |
Back to Blog
Rob valletta11/23/2023 ![]() Most importantly, the existing framework for evaluating the effectiveness of health interventions does not take into account considerations of relative cost: procedures with similar impacts on health outcomes can be regarded as equally meritorious despite large differences in the costs of their use. This approach entails various problems, including the possibility of mistaken assessments due to limitations of accepted experimental designs and statistical evaluations. private and public health plans, this determination currently is based on an assessment of whether the technology or procedure yields greater improvement in health outcomes than do established alternatives. Garber’s preferred strategy for cost control relies on modifying the process used to determine which medical procedures and therapies are covered under insurance plans. Moreover, increased cost sharing offsets the risk-protection and risk-pooling intent of insurance plans. However, the overall containment potential of cost sharing is limited because the highest-cost claims account for a large share of total spending and are relatively insensitive to cost sharing. Such cost sharing has the potential to curb utilization, which may help contain cost growth in an efficient manner. health-care costs have risen in recent years, out-of-pocket costs for the insured have grown rapidly: for example, premium contributions for workers covered under plans provided by their employers grew about 50% between 20. health care so that costs associated with new technologies are controlled but the quality of services is not undermined. To help improve our understanding of how new medical technologies contribute to the evolution of health-care benefits and costs and how government policy may affect these trends, the Center for the Study of Innovation and Productivity convened a conference that brought together four leading scholars to discuss various aspects of the development and use of new medical technologies.Īlan Garber, from Stanford University and the Palo Alto VA hospital, presented his work on “Cost-Conscious Coverage for Medical Innovation.” His presentation focused on the role that new medical technologies have played in the rapid rise in health-care costs and how to alter the incentives in U.S. These trade-offs are likely to intensify over time, raising a host of issues for policymakers and the public alike. ![]() At the same time, however, rising costs mean lower affordability: coverage under private health plans, mostly through employers, has declined in recent years, putting added strain on already strapped public programs (Buchmueller and Valletta 2006). Much of this growth is demand driven, as purchasers of health care spend increasing amounts of money to pay for new, technologically advanced medical procedures and drugs that extend life and improve its quality. gross domestic product more than tripled, growing from 5.2% to 16% this growth is likely to continue, with health care conceivably expanding to encompass up to one-third of national output by the year 2050 (Jones 2005). Between 19, the share of health-care spending in U.S. Health care is among the most technologically advanced sectors, and it also constitutes a large and growing share of the U.S. This Economic Letter summarizes the presentations made at a symposium by the same title sponsored by the Center for the Study of Innovation and Productivity and held at the Federal Reserve Bank of San Francisco on May 25, 2007. It is prepared under the auspices of the Center for the Study of Innovation and Productivity within the FRBSF’s Economic Research Department. The Costs and Value of New Medical Technologies: Symposium SummaryĬSIP Notes appears on an occasional basis.
0 Comments
Read More
Leave a Reply. |