Federal Reserve Chairman Ben Bernanke shared some thoughts on health care reform from “an economist’s perspective” today. He was short on proposals, but did suggest that we concentrate our attention on improving the cost-effectiveness of our health care system:
From the economist’s perspective, the question of whether we are spending too much on health care cannot ultimately be answered by looking at total expenditures relative to GDP or the federal budget. Rather, the question, whatever we spend, is whether we are getting our money’s worth.
He suggested that in our current system, decisions were made with the idea that “someone else will pay for it,” either the government, or private insurance.
“The best way to reduce the fiscal burdens of health care is to deliver cost-effective health care throughout the entire system,” Bernanke said.
You can read the full text of his remarks here.
Challenges for Health-Care Reform [FED]
(AP Photo/J. Scott Applewhite, File)