Panel: Impact of US Healthcare Reform
For our panel on the impact of healthcare reform in the United States, Goldman Sachs brought together former Senator Kent Conrad of North Dakota; Dr. Kenneth Davis, president and chief executive officer of Mount Sinai Medical Center; and Dr. Jeffrey Kang, senior vice president of Health and Wellness Services and Solutions at Walgreens.
Senator Conrad, on the importance of balance in public exchanges: “Insurance is shared risk. If you only get in the pool those who have elevated risk, you’ve got elevated costs. The real challenge is getting as many people into the system as possible – both healthy and unhealthy – to share the risk.”
Dr. Davis, on one of the challenges of the healthcare system: “There is an inequitable distribution of doctors throughout the country. While there’s a heavy concentration of them in close proximity in urban areas, there are shortages in many other parts of the country.”
Dr. Kang, on the evolution of the healthcare market: “Regardless, the employer is still involved. The objective of the private exchange movement is to have the individual responsible for their health plan choice while still providing the employer subsidies. This way, the employee is more accountable for their health, which will create greater efficiencies and competition in the industry, essentially turning the group market into an individual market.”