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MANA 5334 Consulting & Research in Health Care Organizations

MANA 5334 Consulting & Research in Health Care Organizations. A Presentation on Arnold King’s Crisis of Abundance: Rethinking How We Pay for Health Care. The Rise of Healthcare Costs. Who is Arnold King, the CATO institute & what do they know anyway?

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MANA 5334 Consulting & Research in Health Care Organizations

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  1. MANA 5334Consulting & Research inHealth Care Organizations A Presentation on Arnold King’s Crisis of Abundance: Rethinking How We Pay for Health Care

  2. The Rise of Healthcare Costs • Who is Arnold King, the CATO institute & what do they know anyway? • What is the root cause of this rise in health care costs? • What is the concept of Premium Medicine? • What, if any, alternatives can be implemented? • What does the future hold?

  3. The Man, the Myth, the LegendArnold Kling • Earned Ph.D. in Economics in 1980- M.I.T. • Economist with the Federal Reserve Board in Washington D.C. & later with Freddie Mac • Founded Homefair.com in 1990’s – one of the first commercial internet enterprises, sold in 1999 • Since then, volunteer teaching in high schools and adjunct professor most recently at George Mason University • Contributing editor of TCSdaily.com & writes for Econlog.econlib.org • Has written two other books and his website is arnoldkling.com

  4. The MAN is keepin’ us down. The Cato institute will drop knowledge • Founded in 1977, A public policy research foundation dedicated to broadening the parameters of policy debate to allow consideration for more options consistent with traditional American principles of a limited government, individual liberty and peace. • Idea is to educate the lay public about questions of policy and roles of the government

  5. BIG BROTHER is crushing us.Cato Institute is here to help. • Named for Cato’s letters • Despite achievements of fore fathers, virtually no aspect of life today is free of government encroachment • Publications including the Cato Journal & the quarterly magazine Regulation combat the governments trampling of civil liberties • The Cato institute accepts NO government funding • Contributions are given by foundations, organizations and individuals • Nonprofit, tax-exempt, educational foundation under section 501(c)3 code of the I.R.S. • Location: 1000 Massachusetts Ave. N.W. Washington D.C.20001 Website: www.cato.org

  6. Health Care Cost Rising • The 3 economic Narratives -Private Insurance does not work -Health care providers over charge for services -PM medicine accounts for most of the problem • Arnold Kling feels PM is the only plausible cause for increasing health care cost

  7. Health Care Costs Rising • Past 30 years, medicine has become more expensive. Today’s medicine could be termed “Premium Medicine” • PM utilizes more physical capital (MRI machines) & more human capital (specialists) • PM reflects cultural expectations that call for a high level of effort to diagnose correctly and treat effectively • PM clearly has caused the rise in health care cost, evidence for a rise in health care BENEFIT is mixed • Because of the triumph over many ID’s, must turn our attention to DD’s, this will cause more cost increase and less visible benefit

  8. Growth of CT & MRI Scans in the United States from 1980-2003

  9. Are the DOLLAR$ making a DIFFERENCE? • Kling suggests NO WAY! • Kling’s 3 options for treatment -do nothing -treat empirically -treat on the basis of a through diagnosis, ruling out minor possibilities (PM)

  10. ALTERNATIVES & SUGGESTIONS • Insulation v/s insurance • Matching funding systems with needs • Markets and Evolution • Policy ideas -Medical Guidelines Commission -Single Point of Accountability -Lifting licensing restrictions

  11. F U T U R E • SOME GOVERNEMNT INVOLVMENT, BUT NOT TOTALLY CONTROLLED • MORE BURDEN SHIFTED TO INDIVIDUALS • GUIDELINES COMMISION • DO AWAY WITH MEDICARE, MOVE TO SAVING ACOUNTS.

  12. QUESTIONS STATEMENTS CONCERNS COMMENTS

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