Drugs in Emerging Markets

Governments in emerging markets want their citizens to have better drugs. The big pharmaceutical firms are keen to sell to them. But they are fighting bitterly over the terms. – The Economist. Should emerging markets compel companies to sell drugs to them?  As an economist, I am by nature averse to government coercion.  When people…

Medicare Payments to Hospitals to Rise 2.8 Percent in 2013

Medicare will increase payments to hospitals by 2.8 percent in 2013.  This net change is due to five major adjustments. Hospital market basket Adjustment: 2.6 percentage points Multi-factor productivity adjustment: 0.7 percentage points Affordable Care Act Provisions: -0.1 percentage points Remaining FY 2008 and FY 2009 Prospective Documentation and Coding Adjustment: -1.9 percentage points Restoration…

How much money does Medicare waste?

The answer depends on who you ask. According to the GAO, Medicare spent $48 billion in “improper payments,” which include fraud but also waste, eligibility errors, miscoded claims and insufficient documentation. GAO determined that Medicare’s traditional fee-for-service plan had a 10.5 percent error rate. Attorney General Eric Holder, suggest there may be $60 billion in…

Friday Links

Our last best hope? Health Reform’s Effect on uninsured young adults. Are you better off? Bayesians of Wins. Yet another workers’ comp deal. As I have been in Washington DC this week for meetings with the Institute of Medicine, I feel a travel-based quotation and link is appropriate: “He wants us to trust that a…

History Repeating Itself.

“First, you push on your territories, where you have no business to be, and where you had promised not to go; secondly, your intrusion provokes resentment, and resentment means resistance.  Thirdly, you instantly cry out that the people are rebellious and their act is rebellion…Fourthly, you send out a force to stamp out rebellion; and…