How does the CEA plan to improve health insurance markets

According to a February 2019 report, the Council of Economic Advisors proposes to improve health insurance markets through three key policies: Eliminate the individual mandate Permitting more small businesses to form Association Health Plans Expanding short-term, limited-duration insurance (STLDI) plans The report claims that these changes will generate $450 billion in social surplus over the…

New IVI Report Examines Imbalances in Health Care Effectiveness Analyses

The Innovation and Value Initiative (IVI) – a collaboration of academics, patient advocacy organizations, payers, life sciences companies, providers, delivery systems, and other organizations dedicated to finding scientifically credible approaches to measuring value in health care – today released a report examining imbalances in cost-effectiveness analyses (CEAs) across pharmaceuticals, medical/surgical treatments, and mixed procedures. The report, Expanding Cost-Effectiveness…

Philipson to join CEA

The WSJ reports: President Donald Trump named Tomas Philipson, an economist at the University of Chicago who has specialized in health-care policy, to the three-member Council of Economic Advisers on Monday. More information is in this White House press release.  Dr. Philipson is one of the founders of my current employer, Precision Health Economics.   I…

Cost effectiveness analysis Q&A

What is cost effectiveness analysis or CEA?   One definition is that CEAs–at least in the field of health care–measure the difference or ratio between cost of care and the benefits of care for a given intervention compared to an alternative treatment strategy.  The intervention could be a new surgical procedure, a drug, a behavior modification program or any other…

CEA for EBP

How do you implement a cost effectiveness analysis (CEA) for the implementation of evidence-based practices (EBP)?  This is the topic Fortney et al. (2014) address.  They review four types of CEAs. Trial based CEA. Relies on traditional randomized controlled trials (RCT).   Because RCTs are expensive, they are typically run on a small sample of the…