Hospital Productivity U S C - B R O O K I N G S S C H A E F F E R I N I T I A T I V E F O R H E A L T H P O L I C Y J U N E 2 5 , 2 0 1 9 C H A P I N W H I T E S E N I O R P O L I C Y R E S E A R C H E R ( A D J U N C T ) , R A N D I N D E P E N D E N T C O N S U L T A N T This briefing represents the views of the author, and not RAND or RAND’s funders.
The Challenge o Most products production market capital and prices costs competitiveness technology o Hospitals production capital and public policy prices technology costs
Why Bother Measuring P’s and Q’s? o Spending (S) = Price (P) * Quantity (Q) o General ?: Are we paying more (P) or getting more (Q)? o ? in Health Care: Are P’s fair? o service price indexes (SPIs) do a good job at this o quality/outcome- adjusted P’s muddy the waters o if survivorship rises, do hospitals get credit? o if readmissions fall, should hospitals get to keep the money?
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