What question did this study set out to answer?

To assess whether escalating medical care expenditures in the United States cause severe welfare losses and evaluate the economic merits of standard cost containment proposals.

August 1, 1992The Journal of Economic PerspectivesOpen Access

Medical Care Costs: How Much Welfare Loss?

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To assess whether escalating medical care expenditures in the United States cause severe welfare losses and evaluate the economic merits of standard cost containment proposals.
Conducted an economic policy analysis evaluating public assumptions regarding national healthcare expenditure growth and social welfare loss.
Modeled the prospective welfare impacts of standard cost containment strategies on insured and uninsured populations.
Welfare losses associated with elevated medical care expenditures are substantially smaller than public rhetoric suggests.
Cost containment interventions risk causing net welfare losses among insured individuals and may paradoxically increase the size of the uninsured population.

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Implication

Economic analysis suggests welfare loss from rising healthcare costs is overstated in the United States, indicating aggressive containment policies could harm coverage.

Cite This Study

Joseph P. Newhouse (1992) studied this question.

synapsesocial.com/papers/6a0e2a6a2a2e27e73427ae04 https://doi.org/10.1257/jep.6.3.3

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Implication

Economic analysis suggests welfare loss from rising healthcare costs is overstated in the United States, indicating aggressive containment policies could harm coverage.

Medical Care Costs: How Much Welfare Loss?

Key Points

Discussion

Implication

Cite This Study

Medical Care Costs: How Much Welfare Loss?

Key Points

Discussion

Implication

Cite This Study

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