The conversation on health care costs in America is decades old, yet progress has been elusive. Terms like sustainability, affordability, and value are set forward as goals, but perspectives on how to achieve them vary widely. Speakers and panelists provided insights into current and projected health care cost trends, what different stakeholders hope to achieve, and new approaches to consider.
The Alliance for Health Policy was delighted to have Jessica Banthin and Dr. Farzad Mostashari as our keynote speakers for the summit on Health Care Costs in America.
Jessica Banthin, deputy assistant director of the Congressional Budget Office’s Health, Retirement, and Long-Term Analysis Division kicked off the event by unpacking the CBO’s most recent Budget and Economic Outlook. This report on the nation’s finances projects that both Medicare and Medicaid will cost the government more by 2028 due to rising per-beneficiary costs of care. Ms. Banthin defined the health care costs issue using historical and future cost trends and highlighted what the data shows where we are actually spending our money.
Later, Dr. Farzad Mostashari, co-founder and chief executive officer of Aledade, Inc. and former national coordinator for Health IT at the Department of Health and Human Services, discussed emerging health care industry trends. As policymakers grapple with how to manage rising health care costs, private sector solutions are also evolving. Dr. Mostashari highlighted next-generation innovations and technologies that may disrupt the status quo and change how we approach the health care costs conundrum.