Nurse employment and wage trends

Recent news articles have spilled much ink about the current nurse shortage. According to Pew, due to nursing shortages “Hospitals nationwide are canceling nonemergency surgeries, struggling to quickly find beds for patients and failing to meet the minimum nurse-patient ratios experts recommend.” Nursing wages are rising as well. The Baltimore Sun reports that the University…

Alternative Payment Models: Where are we now?

Health Care Payment Learning and Action Network (HCP LAN) is dedicated to moving the health care system from volume-based, fee-for-service reimbursement, to alternative payment models (APM). While there are a large number of different types of APMs, broadly, all of them shift more financial risk to providers while also linking reimbursement to quality of care.…

Statistics on health care labor

On this Labor Day, below find some interesting statistics from the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) on health care wages and employment. From the first graph, one can see that health care practitioners (e.g., physicians, nurse) have much higher wages than average but health care support workers (e.g., ) have…

2021 Medicare Trustees Report

The 2021 Medicare Trustees Report–formerly known as the “Annual Report of the Boards of Trustees of the Federal Hospital Insurance Trust Fund and the Federal Supplementary Medical Insurance Trust Fund“–had some grim news. Expenditures ($925.8 billion) exceeded revenues ($899.9 billion) in 2020. More worrying, the estimated depletion date for the Medicare (i.e., Hospital Insurance) trust…

How much is your life worth?

In a previous post, I answered this question from the perspective of government agencies: According to the Environmental Protection Agency, the answer is $10 million.  Other agencies place use a somewhat lower number.  The Food and Drug administration pegs the value at $9.5 million and the Department of Agriculture places the value at $8.9 million. However,…