A group of economists believes big solutions may not be the key to reducing health care costs, suggesting instead that numerous small fixes could produce better results, according to an article published on the New York Times.
“I think focusing on the forest misses the fact that there are trees encroaching out of the forest,” Yale School of Management Health Economist Fiona Morton says. “And we need to start cutting them down.”
One such solution could involve making some changes to long-term care facilities, according to the article, which administer expensive care to very ill patients.
Researchers in a recent paper pointed to the facilities as a significant driver of health costs, adding that the health care system could save some $5 billion each year by adjusting how much the long-term care facilities are paid.
However, the hospital industry, according to the article, has responded negatively to the paper, adding that the researchers’ data, which was pulled between 1990-2014, was dated and fails to account for regulatory changes to the facilities in recent years.
To read the full report on the New York Times, click here. (Paid subscription may be required)