Shannon Brownlee and Vikas Saini from the Lown Institute and Benjamin F. Miller from Well Being Trust discuss how state budgets are being squeezed by health care costs and what we can do about it.
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To Silicon Valley entrepreneurs, health care is a sector ripe for disruption. They’re not wrong, given skyrocketing health care spending that’s yielding diminishing returns on health. From high-tech fitness trackers to genome sequencing and pill delivery services, the number of health care startups has exploded. In 2018, investors poured more than $8 billion into digital health startups, up from $5.7 billion invested the year before on the promise of shaking up health care, and innovating our way to better health.
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Squeezed by rising health care costs, states have shifted money away from “social spending” on programs like public education, public health services, housing assistance, food assistance and income support. That shift “is having dire and long-lasting consequences for the nation’s health and community well-being,” warns a new report from the Lown Institute, a nonpartisan nonprofit that advocates for affordable health care.
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In a report released Tuesday, community health advocates at Oakland’s Well Being Trust warned California’s leaders that they must curb prices and waste in health care spending.
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