Michael Chernew

Michael Chernew, Ph.D., is the Leonard D. Schaeffer Professor of Health Care Policy and the Director of the Healthcare Markets and Regulation (HMR) Lab in the Department of Health Care Policy at Harvard Medical School. Dr. Chernew’s research activities focus on innovations in payment reform and benefit design. Dr. Chernew is a member of the Congressional Budget Office’s Panel of Health Advisors and of the Institute of Medicine Committee on National Statistics. Dr. Chernew is the former Vice Chair of the Medicare Payment Advisory Commission. In 2000, 2004 and 2011, he served on technical advisory panels for the Center for Medicare and Medicaid Services that reviewed the assumptions used by the Medicare actuaries to assess the financial status of the Medicare trust funds. Dr. Chernew serves as the Vice Chair of the Massachusetts Health Connector Board of Directors. He is a Research Associate of the National Bureau of Economic Research. Dr. Chernew serves as Co-Editor of the American Journal of Managed Care and Editor for the Journal of Health Economics. In 2010, he was elected to the Institute of Medicine of the National Academy of Sciences and served on the Committee on the Determination of Essential Health Benefits. Dr. Chernew earned his undergraduate degree from the University of Pennsylvania and a doctorate in economics from Stanford University.

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The United States spends a larger share of its GDP on health care than any other advanced economy. This high private sector health-care spending in the United States is driven mostly by higher prices, with little evidence to suggest that high prices reflect better quality of care. In this proposal, Michael Chernew, Leemore Dafny, and Maximilian Pany discuss how price regulations could be used to constrain commercial provider prices in an efficient manner.

On February 26th, The Hamilton Project hosted a forum featuring a diverse group of experts from around the country who discussed 13 targeted policy proposals that were released that day on reforming entitlement spending, tax reform, and how to create new sources of revenue and efficiency. The proposals provide specific strategies on how lawmakers can address many different areas of the budget, and address options to reduce both mandatory and discretionary spending.

Slowing the rate of health care spending growth will likely require transitioning away from a fee-for-service system to a global payment system. Michael Chernew and Dana Goldman propose policies to promote efficiency in the Medicare program by providing incentives to treat disease rather than paying for individual services in a way that encourages improvements to the quality of care.

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