Unbiased Analysis of Today's Healthcare Issues
From The Onion… Internet Opens Up Whole New World Of Illness For Local Hypochondriac “All her life, Janet Hartley has suffered from a host of ill-defined viruses and inexplicable aches and pains, diagnosing herself with everything from diabetes to cancer. But ever since discovering such online medical resources as WebMD, drkoop.com, and Yahoo! Health, the…
There is an interesting article in the NYT Magazine (“Self-Nonmedication“) about the anti-depressant drugs pharmaceuticals. The author stops taking Effexor and experiences anti-depressant withdrawl discontinuation syndrome.
Are quality based incentive programs the solution for improving physician quality without increasing cost? While I believe that measuring quality is an important avenue by which quality can be improved, it is not a magic bullet. A study by Gilmore, et al. (HSR 2007) looks at a pay-for-performance scheme developed in Hawaii. The authors look…
The Washington Post (“Senate likely to Back…“) reports that the Senate will support a plan to remove the legislative barriers against the importation of pharmaceuticals from other countries. According to the article: “The provision would allow consumers to buy prescription drugs from Canada and permit commercial distributors to obtain them from Canada, Japan, Austria, Switzerland…
The RAND health insurance experiment (HIE) demonstrated that increasing coinsurance rates decreases medical care utilization. The HIE also found that health outcomes did not vary between individuals with high, low and zero coinsurance rates. A working paper by Chandra, Gruber and McKnight (“Patient Cost Sharing…“) re-examines whether or not this is the case using a…
The latest edition of the Health Wonk Review is available at Hank Stern’s InsureBlog.
The concept of diminishing return is one that pervades much of economics. A Health Affairs article (“U.S Health Care Spending…“) by health economist Uwe Reinhardt and co-authors claims that since the U.S. spends more per-person on health care, the marginal benefit of any treatment is low due to diminishing returns. This hypothesis got me thinking…
A working paper by Yolanda K. Kodrzycki and Pingkang David Yu of the Boston Fed attempts to rank economic journals according to their: 1) impact within the Economics field, 2) overall impact, 3) Policy Impact and 4) impact on non-economic journals. The top 10 journals in each category are as follows: Within Economics Overall Impact…
When constructing policy, we are often faced by an equity-efficiency tradeoff. For instance, increasing welfare benefits will increase equity but may reduce a poor individual’s incentive to work if the welfare benefits are tied to having low income. A recent NBER working paper by the nobel laureate James Heckman and co-author Dimitriy Masterov (“…Investing in…
“…in a similar way, the slow growth of the coloring industry in the U.S. before the First World War was largely due to patent protection: most patents were held by the large German companies, such as Bayer, BASF, Hoechst and IG Farben. The chemical industry in the US was so underdeveloped, that during the First…