Objectives: This study investigates the possibility of multiple healthcare bubbles in the US healthcare market.
Methods: We first applied the newly developed Generalized Sup ADF test to locate multiple healthcare bubble episodes and then estimated the switching regression model specifying multiple healthcare bubble periods to evaluate to what extent macroeconomic variables (such as the interest rate, public debt, and fiscal deficit) and public financing healthcare programs influence the magnitude of healthcare bubbles in terms of the deviation of the medical care price inflation from either the overall price inflation or the money wage growth.
Results: Our results show that expansionary monetary and fiscal policies play important roles in determining the deviation of the medical care price inflation from the overall price inflation and that the net government debt has a positive impact on the deviation of the medical care price inflation from the money wage growth. The US healthcare market is now in the middle of a healthcare bubble, and this healthcare bubble has developed slowly and has lasted for approximately 3 decades, mirroring an increased societal preference for healthcare.
Conclusions: Policymakers in the US should cautiously consider the fact that healthcare bubbles must imply a misallocation of resources into healthcare, leading to negative consequences on the sustainability of the healthcare system.
Download full-text PDF |
Source |
|---|---|
| http://dx.doi.org/10.1007/s10198-015-0668-y | DOI Listing |
Publication Analysis
Top Keywords
Similar Publications
Energy and climate policy implications on the deployment of low-carbon ammonia technologies.
Nat Commun
January 2025
Department of Chemical Engineering, Worcester Polytechnic Institute, Worcester, MA, USA.
The economic feasibility of low-carbon ammonia production pathways, such as steam methane reforming with carbon capture and storage, biomass gasification, and electrolysis, is assessed under various policy frameworks, including subsidies, carbon pricing, and renewable hydrogen regulations. Here, we show that employing a stochastic techno-economic analysis at the plant level and a net present value approach under the US Inflation Reduction Act reveals that carbon capture and biomass pathways demonstrate strong economic potential due to cost-effectiveness and minimal public support needs. Conversely, the electrolytic pathway faces significant economic challenges due to higher costs and lower efficiency.
View Article and Find Full Text PDFCountry of origin and prices of systemic antibiotics in Vietnam: a multicentre retrospective study.
JAC Antimicrob Resist
February 2025
Department of Infectious Diseases, Hanoi Medical University, No 1 Ton That Tung Street, Dong Da District, Hanoi, Vietnam.
Background: Local production of antibiotics is essential for improving access to treatment of clinical infection and avoiding vulnerability to expensive drug imports.
Objectives: To describe the country of origin and cost of antibiotics in Vietnam.
Methods: This was an observational study.
Comparing Otolaryngology Subspecialties' Changes in Medicare Reimbursement From 2013 to 2024.
Laryngoscope
January 2025
Department of Otolaryngology, Texas Tech University Health Sciences Center, Lubbock, Texas, U.S.A.
Objective: Identify differences in Medicare reimbursement changes for general otolaryngology, pediatric otolaryngology, head and neck oncology, laryngology, rhinology, otology, facial plastic and reconstructive surgery, and sleep surgery subspecialties from 2013 to 2024.
Methods: Subspecialty-based procedures' facility prices and relative value units (RVUs) were sourced from the Centers for Medicare & Medicaid Services' Physician Fee Schedule. Prices were adjusted for inflation, and the average percent change in facility price and RVUs for each subspecialty was calculated.
Why wasn't mirabegron chosen for the first year of the CMS negotiation program?
Urogynecology (Phila)
January 2025
UConn Health, Farmington, CT.
Importance: The most used overactive bladder (OAB) medications are anticholinergics, which professional societies recommend avoiding in older patients given dementia risk. Cost prevents patients from switching to preferred beta-3 agonists. Mirabegron was the only beta-3 agonist eligible for the Centers for Medicare/Medicaid Services (CMS) 2023 Drug Negotiation Program (DNP).
View Article and Find Full Text PDFExamining consumer preferences for basic foodstuffs in a highly inflationary economic environment: The case of price-capped chicken breast fillet in Hungary.
Heliyon
January 2025
Coordination Center for Research in Social Sciences, Faculty of Economics and Business, University of Debrecen, Böszörményi út 138., 4032, Debrecen, Hungary.
In recent months, the European Union has experienced inflation that has not been seen for decades. Inflation and inflation expectations are crucial in economic and purchasing behaviour, as they influence consumption. Hungary had the highest inflation among the Member States of the European Union.
View Article and Find Full Text PDFWant AI Summaries of new PubMed Abstracts delivered to your In-box?
Enter search terms and have AI summaries delivered each week - change queries or unsubscribe any time!