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The costs and value of new medical technologies: symposium summary

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  • Robert G. Valletta

Abstract

Health care is among the most technologically advanced sectors, and it also constitutes a large and growing share of the U.S. economy. Between 1960 and 2005, the share of health-care spending in U.S. gross domestic product more than tripled, growing from 5.2% to 16%; this growth is likely to continue, with health care conceivably expanding to encompass up to one-third of national output by the year 2050. ; This Economic Letter summarizes the presentations made at a symposium by the same title sponsored by the Center for the Study of Innovation and Productivity and held at the Federal Reserve Bank of San Francisco on May 25, 2007.

Suggested Citation

  • Robert G. Valletta, 2007. "The costs and value of new medical technologies: symposium summary," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue jul6.
  • Handle: RePEc:fip:fedfel:y:2007:i:jul6:n:2007-18
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    References listed on IDEAS

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    1. Charles I. Jones, 2005. "More life vs. more goods: explaining rising health expenditures," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue may27.
    2. Mark Duggan & Fiona M. Scott Morton, 2006. "The Distortionary Effects of Government Procurement: Evidence from Medicaid Prescription Drug Purchasing," The Quarterly Journal of Economics, Oxford University Press, vol. 121(1), pages 1-30.
    3. Ho, Vivian & Town, Robert J. & Heslin, Martin J., 2007. "Regionalization versus competition in complex cancer surgery," Health Economics, Policy and Law, Cambridge University Press, vol. 2(01), pages 51-71, January.
    4. Thomas C. Buchmueller & Robert G. Valletta, 2006. "Health insurance costs and declining coverage," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue sep29.
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    Cited by:

    1. Vincenzo Atella & Francesco D'Amico, 2010. "Who is responsible for your health: You, your doctor or new technologies?," CEIS Research Paper 167, Tor Vergata University, CEIS, revised 28 May 2010.

    More about this item

    Keywords

    Medical care ; Medical care; Cost of;

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