When I met with several Republican senators this week, it was clear that they recognize Americans’ desire to have practical solutions for the cost of health care. The combination of pressure from constituents and a direct challenge from President Donald Trump is focusing their attention on immediate reforms which could be enacted – even with a Democratic House. Republicans also realize their alternative to “Medicare for All” must be built on a larger, positive vision.
In a normal marketplace, as Edward Deming wrote, innovators create products and customers define value. An innovator may create something they think is impressive, but it is the customer who gets to decide how much they are willing to pay for it. They make this decision based on how much they value the product over other ways to spend their money. It is this interplay between innovators creating new products and customers defining their value which makes the magic of the marketplace work.
The question then becomes: How do we make this third-party payment system as accountable as possible to the patients, so they can define value even though a third-party is paying? So, as we evaluate possible reforms, we need to establish the “Patient Power Test.” It asks a simple question: Does the reform increase or decrease the patient’s power to define value?
This reform increases the patient’s ability to define value, because his or her out-of-pocket expenses for the drugs are based on the actual price of the drug rather than an inflated list price. It saves patients money and passes the Patient Power Test.One is a proposal being floated by Speaker of the House Nancy Pelosi to have a so-called neutral arbiter have the final say on prices in Medicare.
Another set of somewhat similar proposals that fail this test are those put forth to base Medicare Part B prices on what other countries pay for drugs. I have been very supportive of the steps Secretary Azar and the President have been taking to reform health care, but both the HHS and similar proposals in the Senate miss the mark.
Newt Gingrich is a hot air bag who just likes attention. In the long run, he always proves himself to be full of shit. I could never trust anything he says.
This article does not explain how making the patient more directly involved in healthcare makes is less expensive am I missing something?
So newtgingrich , a free market can't fix healthcare. The value of a drug you need to live is infinite and the market will set the price that results in the most profit even if it doesn't sell to everyone who needs it to live at 1000x its production cost. See: Insulin.
Newt Gingrich is an idiot. Healthcare is priceless, but if you have no money it’s totally out of reach. How mich is a yacht worth? If you can’t afford it, who cares?
Is that why the GOP is running up our premiums, reducing our coverage and taking away our medical rights established under the ACA?
Companies decide idiot
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