Forbes on Health Care Reform
As the White House transition from the Bush administration to the Obama administration begins in earnest, the current economic climate has caused attention of many, including those in both administrations, to shift away from health care reform to repairing the broken financial sector, bailing out the big three automakers and stopping the bleeding caused initially by the subprime mortgage crisis. While many are distracted on reacting to current crises, Steve Forbes continues to strive to be ahead of the curve (as he often does, in my opinion) and has remained focused on some of our other pressing concerns, including health care reform (Forbes magazine also recently did a noteworthy piece on energy - another critical area of concern but that is no longer front and center on the mainstream agenda in light of recent events and declining oil prices).
In the December 22, 2008 issue of Forbes, Forbes states that "[t]he key to bringing health care costs under control is not cutting back on the quality of care but changing the way that we finance care." Forbes suggests that patients, not other third parties, should be in control of their health care dollars, especially because, "[w]hen there's a disconnect between providers and consumers (patients, in this case), productivity and innovation suffer." He cites to private pay procedures as being a leading indicator of what happens when patients control their own funds. For example - the cost of Lasik surgery has declined over the years by roughly 50%.
Regardless of whether you agree with Forbes on his health care reform position - whether it's in the health care space or energy - unlike others, Forbes conveys a sense of urgency and that positive changes in energy and health care sectors are needed now so that we ward off calamity similar to the one we've seen in the financial services space.
