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Medicare Auction Reform

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Abstract

Controlling Medicare costs is essential to our health care system. Yet as we look to the future, unfunded Medicare expenses are estimated to be about 70 trillion dollars—an unsustainable amount. Effective use of market methods in Medicare is our best hope for controlling these costs while maintaining quality. Unfortunately, the current Medicare auction program is fatally flawed. This 12-minute video summarizes the problems and the solution. Experts from government and industry voice their concerns and propose a path forward.

Suggested Citation

  • Peter Cramton, 2012. "Medicare Auction Reform," Papers of Peter Cramton 11marv, University of Maryland, Department of Economics - Peter Cramton, revised 2012.
    • Handle: RePEc:pcc:pccumd:11marv
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    File URL: https://vimeo.com/26486255
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    Keywords

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    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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