As everyone knows, October has been a terrible month for equity markets. Some market participants feel that this did not just coincide with higher interest rates, but was caused by flawed Fed monetary policy and comments on overshooting. Like the humming chorus in Madama Butterfly, there has been a steady rise in the number of voices supporting a Fed pause in December. These include members of the Federal Reserve Open Market Committee itself, such as Neel Kashkari, and leading economists such as Jason Furman.
Healthcare data wants to be free, but it is oppressed. Entrenched oligarchs trap information within closed, centralized systems that prioritize revenue collection, misuse resources and tolerate medical error. Data gasps for breath as it fights to break into curated systems that produce insight.
Co-authored with Todd Rudsenske & Daniel A. Gofman*.
Autism Spectrum Disorder (ASD) is the nation’s fastest-growing developmental disorder, one that touches each child and family in unique and complicated ways. A lifelong condition, ASD requires individualized treatments that are now increasingly available in communities across the United States.
Healthcare has experienced a parade of surprising megamergers and acquisitions during the last year. At first glance, Best Buy’s August acquisition of GreatCall may be the most startling. At a deeper level, however, Best Buy’s movement into healthcare reflects a nuanced understanding of consumerism, retail market dynamics and America’s need for more connected, holistic care services.
Over the past month, the Centers for Medicare and Medicaid Services (CMS) announced several pro-market policies that will enhance pricing transparency, stimulate competition (and fair prices) for routine procedures and eliminate burdensome reporting requirements.
Hospitals welcome the regulatory relief but generally oppose measures that improve pricing parity and transparency. They are on the wrong side of history.
During President Richard Nixon’s historic 1972 trip to China, the press asked China’s premier Zhou Enlai to comment on the French Revolution’s impact on world affairs. Zhou famously replied, “Too early to say.”
For British novelist Charles Dickens, the French Revolution was a period of change and turmoil filled with plenty of evidence for hope and ample cause for despair. As he wrote eloquently in A Tale of Two Cities:
In well-functioning healthcare markets, governmental regulatory policies ensure access, safety, quality and privacy. The government’s most important role is creating level-field competition through balanced regulation, targeted enforcement actions and price/outcomes transparency. Unfortunately, many healthcare markets do not function efficiently.
The Centers for Medicare and Medicaid (CMS) is not uniformly supporting pro-market reforms. Two recent CMS decisions diminish competitiveness and hurt consumers in key healthcare market segments.
Co-Authored with Andy Waldeck.
Amid much fanfare, the Amazon, Berkshire Hathaway, JP Morgan health venture (ABJ) announced on June 20th that its new CEO will be acclaimed author and surgeon Atul Gawande. Gawande starts his new job this week at ABJ’s new headquarters in Boston, Gawande’s hometown. We wish you well Atul. Your country needs you.
The 21st FIFA World Cup kicked off on June 14th when host Russia trounced a weak Saudi Arabian team 5-0 at 81,000-seat Luzhniki Stadium in Moscow. It equaled the most lopsided opening game in World Cup history. Excitement is now at a fever pitch as the competition moves into the knockout rounds.
In 1993, the health insurance industry funded the legendary “Harry and Louise” campaign to mobilize public opinion against the Clinton healthcare reform proposal. The strategy worked. Despite enormous investment of political capital, the Democratic-controlled House of Representatives never voted on the Clintons’ reform legislation. It “died in Committee.”