Hybrideseminar: Health Care Spending Growth Has Slowed: Will the Bend in the Curve Continue?
Donderdag 16 maart 2023 geeft Joe Newhouse (Harvard) een presentatie getiteld: "Health Care Spending Growth Has Slowed: Will the Bend in the Curve Continue?." Indien u wilt deelnemen stuurt u een e-mail naar Simone Pailer (S.Pailer@cpb.nl). U wordt aangemeld bij de receptie of ontvangt een Teams-uitnodiging via Outlook. Journalisten dienen zich tevens te melden bij woordvoerder Jeannette Duin: J.E.C.Duin@cpb.nl
Over 2009-2019 the seemingly inexorable rise in health care’s share of GDP markedly slowed, both in the US and elsewhere. To address whether this slowdown represents a reduced steady-state growth rate or just a temporary pause we specify and estimate a decomposition of health care spending growth. The post-2009 slowdown was importantly influenced by four factors. Population aging increased health care’s share of GDP, but three other factors more than offset the effect of aging: a temporary income effect stemming from the Great Recession; slowing relative medical price inflation; and a possibly longer lasting slowdown in the nature of technological change to increase the rate of cost-saving innovation. Looking forward, the post-2009 moderation in the role of technological change as a driver of growth, if sustained, implies a reduction of 0.8 percentage points in health care spending growth; a sizeable decline in the context of the 2.0 percentage point differential in growth between health care spending and GDP in the 1970 to 2019 period.
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