"In Exposed, Christopher Robertson looks at a widely-shared point of agreement in the political battle over how to reshape U.S. healthcare: Nearly all sides believe that health insurance coverage should be incomplete. Driven by a particular economic theory of valuation, the law now reflects this consensus that patients should bear a substantial part of the costs of their own healthcare. In theory, this strategy empowers patients to make cost-benefit tradeoffs as they decide which healthcare to consume, and it could thereby be a force for efficiency in a healthcare system that is rife with waste. But, in fact, this approach to financing healthcare can erode the very purposes of insurance, as it keeps people from valuable care and drives patients into bankruptcy. Contrary to the traditional economic theory of "moral hazard," Robertson identifies the real problems driving wasteful healthcare spending as a lack of good scientific evidence about what healthcare works. Exposed develops an alternative economic framework to understand the real purpose of insurance, pooling resources to provide access to care that would otherwise be unaffordable to individuals"--
Author Christopher T. Robertson (Petrie-Flom Center for Health Law Policy, Biotechnology, and Bioethics, Harvard Law School) explains the concept of cost exposure and why it is flawed as a paradigm for health insurance, drawing on perspectives from economics, health services research, public health, psychology, and law. He shows how and why US health policy has embraced cost exposure as solution to only one aspect of the problem. He points to other factors such as monopolies, lack of price regulation, lack of investment in the production of knowledge, and conflicts of interest, which together drive healthcare waste in the US. The book is accessible to students and others with some background in areas such as health policy or insurance. Robertson teaches law at the University of Arizona. He has been published in the Wall Street Journal and the Washington Post, and he appears as a commentator on NBC News and NPR. Annotation ©2020 Ringgold, Inc., Portland, OR (protoview.com)
Democrats and Republicans fight endlessly over health care, but neither side disputes one of the systems most basic flaws: the foisting on patients of substantial costs through deductibles, copayments, and coinsurance. Marshalling a decade of research, Christopher Robertson shows why this model is dysfunctional and offers ideas for improvement.