Transcription of How Do Managed Care Plans Reduce Healthcare Costs?
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How Do Managed Care Plans Reduce Healthcare Costs?
How Do Managed care Plans Reduce Healthcare Costs? Jessica Van Parys October 29, 2014 JOB MARKET PAPERA bstractThe US public health insurance market is shifting toward reimbursement models that trans-fer risk away from the government and toward health insurers and Healthcare providers. Insteadof paying fee-for-service (FFS) to Healthcare providers, Medicaid and Medicare now outsourcehealthcare delivery to Managed care Plans and the Plans accept risk related to their enrollees Healthcare costs. Previous research reaches mixed conclusions about whether Managed careplans actually Reduce costs. In this paper, I study Florida s 2006 Medicaid Reform, whichmandated that Medicaid beneficiaries switch from the state s FFS system to (1) insurer -ownedplans, (2) hospital-owned Plans , or (3) physician-owned Plans .
findings, I write a model to explain how insurers choose their strategies to minimize costs and I show that their optimal strategies depend on competition with provider-owned plans. In the model, plans choose a combination of three labor inputs to minimize the total costs of producing a fixed amount of medical care for their enrollees.
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