Economic strategy in the age of artificial intelligence, remote work, and re-shoring. Can Indiana leverage its modest outperformance into something more?
This initiative strikes me as very important, for the very reasons you've outlined Bret. Question: are you aware of any developments or initiatives which have achieved some success in modulating the growth of health care costs? Or, containing the deteriorating trend in health (morbidity/ mortality) outcomes? This strikes me as an area ripe for experimentation - though I realize the regulatory and business environment tend to constrain such experiments. An example of what I'm thinking of would be the experiments with medical savings accounts that occurred a few years ago.
Health costs have exploded everywhere, but Indiana’s health systems are even more concentrated than most and costs thus worse than average. The state legislature has made some small attempts to address it but with tiny results so far. The ACA hugely accelerated industry consolidation into giant health systems, often combining with heath insurance too.
We need both demand side reforms, as you suggest, to exert more consumer-like choice and downward price pressure AND (far less discussed) a supply side renaissance of competitive providers and wholly new technologies and business models. We’ve got lots of medical technology, but actual productivity growth and innovation is mostly discouraged and even disallowed.
Thanks Bret. Completely agree that experiments on the provision side are important, and the regulatory and reimbursement environment is a barrier to such experiments :-(
This initiative strikes me as very important, for the very reasons you've outlined Bret. Question: are you aware of any developments or initiatives which have achieved some success in modulating the growth of health care costs? Or, containing the deteriorating trend in health (morbidity/ mortality) outcomes? This strikes me as an area ripe for experimentation - though I realize the regulatory and business environment tend to constrain such experiments. An example of what I'm thinking of would be the experiments with medical savings accounts that occurred a few years ago.
Health costs have exploded everywhere, but Indiana’s health systems are even more concentrated than most and costs thus worse than average. The state legislature has made some small attempts to address it but with tiny results so far. The ACA hugely accelerated industry consolidation into giant health systems, often combining with heath insurance too.
We need both demand side reforms, as you suggest, to exert more consumer-like choice and downward price pressure AND (far less discussed) a supply side renaissance of competitive providers and wholly new technologies and business models. We’ve got lots of medical technology, but actual productivity growth and innovation is mostly discouraged and even disallowed.
Thanks Bret. Completely agree that experiments on the provision side are important, and the regulatory and reimbursement environment is a barrier to such experiments :-(