We present a model in which prospective patients are liquidity constrained, and thus health insurance allows patients access to treatments and services that they otherwise would have been unable to afford. Consistent with large expansions of insurance in the U.S. (e.g., the Affordable Care Act),...

We present a model in which prospective patients are liquidity constrained, and thus health insurance allows patients access to treatments and services that they otherwise would have been unable to afford. Consistent with large expansions of insurance in the U.S. (e.g., the Affordable Care Act),...

An accidental healthcare system -- Paging doctor Welby -- Therapy for an ailing health economy -- The managed care prescription -- Self-help -- The quality revolution -- Mending the safety net -- Reviving the American healthcare system

"When it comes to healthcare, bigger isn't always better. The early-1990s rise of "megaproviders"-large, hospital-based healthcare systems that have become the norm in American medicine-brought promises of accessibility, cost savings, and excellence to the American healthcare experience. Today's...

The U.S. healthcare system is in critical condition--but this should come as a surprise to no one. Yet until now the solutions proposed have been unworkable, pie-in-the-sky plans that have had little chance of becoming law and even less of succeeding. In Code Red, David Dranove, one of the...

This paper explores the economic incentives for medical procedure innovation. Using a proprietary dataset on billing code applications for emerging medical procedures, we highlight two mechanisms that could hinder innovation. First, the administrative hurdle of securing permanent, reimbursable...