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Payment model. And transitioning from a fee for service to a value based reimbursement system. This event was hosted by the National Institute for Healthcare Management foundation. Its about two hours. Good afternoon. So wed like to go ahead and get started. Im nancy chockley. President and ceo of foundation and im just dlieded to welcome you all here today. We have an incredible panel of business and policy leaders. They come at the problems from different perspective. But one unifying theme between all of them is their concern for what rising healthcare costs do to americans. And the need to increase value in our Healthcare System. So each of them will present their own ideas of how to increase value or how they are increasing value in the Healthcare ....
First of all, im an associate pastor at the Public AffairsAmerican University and i am delighted to moderate this panel. Today were talking about private insurance subsidy first ever selection. Im sure everyone in this room knows prior to 2014 the private Insurance Market in the individual market was the wild west. People would buy Health Insurance that was fully inadequate and extremely expensive but on the other hand you had people with employerbased insurance who were very happy with it as the model if you like what you have, you can keep it. The aca was very much focused on changing and improving the private individual market but also preserving the employer supported Insurance Market. Today we ....
Introducing each panelist in the then go on. So i will start with one of the nations most highly regarded economist. What distinguishes this model the brilliant on the theory and research of more than any other economist he understands how markets work. But he also said sits on the benefits committee where he learns firsthand why were not the least efficient. Is that fair to say . [laughter] he also serves on the panel of Health Advisers with the board of directors and vice chair of mudpack we have the good fortune to have him serve on the foundation and vice three board one of the pioneers of value based insurance design to evaluate medicare and private sector organizations please join me to welcome him to the panel. [applause] i am thrilled to be here they have done an incredible job it is great to see all of you here so i will talk broadly about benefit design because bob is going to talk about the budget i am not sure bob wou ....
Playing hockey. He is not able to join us. Mike will cover some of the points he was going to make. Why theres a call to action to increase value in our Health Care System. Ill start first by introducing each panelist and sit down, and then go on. So ill start with mike, who is one of the nations most highly regarded economists. Really what distinguishes mike, not only is he broil yant on the theory and research. Probably more than any other economist, he understands how markets work. And he leads much of the Health Care Policy work coming out of harvard medical school, he also sits on harvards benefits committee, where he learns firsthand why markets are not always efficient. Is that fair to say . He also serves on cbos panel of health advisers. A member of the Massachusetts Health connecter board of direc ....