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“Don’t Panic: The Fiscal Sustainability of Medicare, Past and Future

“Don’t Panic: The Fiscal Sustainability of Medicare, Past and Future. Robert G. Evans Centre for Health Services and Policy Research, UBC June 17, 2010. First Law of Health Economics. Every dollar of health spending is a dollar of someone’s income.

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“Don’t Panic: The Fiscal Sustainability of Medicare, Past and Future

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  1. “Don’t Panic: The Fiscal Sustainability of Medicare, Past and Future Robert G. Evans Centre for Health Services and Policy Research, UBC June 17, 2010

  2. First Law of Health Economics • Every dollar of health spending is a dollar of someone’s income. • Therefore: total health spending is necessarily identically equal to total health incomes.

  3. Adam Wildavsky’s Law of Medical Money “… costs will increase to the level of available funds . . . that level must be limited to keep costs down.” “Doing Better and Feeling Worse: The Political Pathology of Health Policy” Daedalus Vol. 106, no.1, 1977, pp. 105–124.

  4. Shoppers’ Drug Mart shares (SC-TSX) • April 7, 2010 $43.50-$44.00 • April 8, 2010 $38.00 … • June 15, 2010 $34.53 • Reduction in Shoppers’ market capitalization: Roughly $2 billion

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