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27 July 2020 | Press Release
The COVID-19 pandemic exposed serious shortfalls in the US health care system that need to be fixed both to handle the current crisis and prepare for futures ones, according to a new solutions brief by the Committee for Economic Development (CED) of The Conference Board.
As outlined in US Health Care in the Pandemic, the significant shortfalls that have become clear include: the ability of the current fee-for-service system to handle the challenge; the nation’s preparedness when the pandemic began; and finally, how the system has performed given the resources we have on hand. The report provides recommendations on how to deal with the current pandemic, as well recommendations, based on lessons learned, for preparing for the next one.
“The COVID-19 pandemic has imposed an enormous price on the US,” said Lori Esposito Murray, President of CED. “That hard-earned experience must not be squandered: We must manage the current situation intelligently and learn to minimize the costs of future outbreaks. US leadership is truly on the line as we react now and plan for tomorrow.”
The US needs a health care system with financial incentives that are realigned to focus on “population health,” according to the report, reimbursing providers for maintaining health. The current fee-for-service system proved especially problematic during the pandemic as the fee-for-service system had trouble rapidly adapting to a new disease, which pressed the health care system and added extra financial stresses as profitable services were crowded out.
To defeat the current outbreak, four steps are immediately necessary:
Once the COVID-19 outbreak has been vanquished, the nation will have to undertake an evaluation of its response to the pandemic to prepare for the next one. The US should move quickly to implement six recommendations well before we face another such crisis:
Read the new report US Health Care in the Pandemic, here.
About CED
The Committee for Economic Development is the Public Policy Center of The Conference Board that delivers well-researched analysis, and non-partisan, reasoned solutions in the nation’s interest. www.ced.org
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