Summary
The announcement that health care industry groups plan to voluntarily shave $2 trillion off the rate of increase in health spending over the next 10 years reminded me of the voluntary effort launched with similar fanfare in the Carter administration. Then, industry groups fended off President Jimmy Carter's efforts to aggressively control the costs of hospital care by offering to do it themselves. Their efforts helped slow the rate of increase in health spending for a few years -- and helped defeat Carter's plan -- but then the rate of increase in costs spiked again.
Historically, efforts to control growth in health costs have sometimes achieved successes, but higher rates of increases have always returned. Meanwhile, health costs continue to consume a bigger and bigger share of our economy.See the full content of this document
Extract
Is Industry's Action On Reform for Real?
Ever since the Carter presidency -- during which I worked in what is now the Centers for Medicare ...
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