Hello please answer :

Question :

There is a heated political debate about ways to reduce healthcare spending. A number of approaches have been proposed, and it is indeed very likely that we will need a combination of approaches to really control healthcare costs. Some of these methods are discussed below. Which method (or combination) do you think will have the greatest impact on spend? What are the advantages and disadvantages of these methods? What are the biggest barriers to successfully reducing spending using these methods? Who might benefit and who might lose from undertaking these approaches (e.g., patients, physicians, hospitals, insurers)? Do these approaches have different implications for access to or quality of care ?

1) Move to value-based payment: One approach that is ongoing is moving provider (e.g., hospital, physician, prescription drug) payment systems to be based on value rather than volume. These "value-based" payment models are intended to control costs as well as improve quality. Much of the evidence to date suggests that these models are not lowering costs.

2) Increase price (and quality) transparency: On January 1, 2021, a federal rule went into effect requiring hospitals to publish negotiated prices for hundreds of commonly used health care services. From July 1, 2022, health insurers must also publish price information for insured goods and services. Increased transparency is said to encourage "cost-conscious shopping" and thus reduce spending, but there is evidence that transparency efforts have had limited impact on consumer behavior.

3) Increase price negotiation with employers: Nearly 60% of Americans buy health insurance through their employers. Employers bear a significant portion of the cost, so it can be assumed that they are interested in reducing healthcare spending. However, so far, employers do not appear to have taken any significant cost-cutting measures. In Montana, the state has taken an aggressive approach to lowering health care costs for government employees, hoping to set an example for other states and private insurers