Welcome to this executive summary and research report on the Center for Healthcare Innovation’s 2nd annual Unintended Consequences of Healthcare & Life Sciences Legislation Symposium, which took place in Washington, DC on October 15, 2014. This non-partisan symposium featured some of the world’s leading healthcare, life science, and government experts coming together in a collaborative setting to discuss the most pressing legislation issues facing the healthcare and life sciences industries in the 21st century.
Unintended consequences are the unanticipated and unforeseen outcomes from government action that are not the outcomes intended by the executive and legislative branches. There are three basic categories: (i) a positive, unexpected benefit, (ii) a negative, unexpected detriment, and (iii) a perverse effect substantially contrary to the original purpose of the law or regulation. Examples in healthcare and life sciences include the Orphan Drug Act of 1983 and the emergence of mini-med healthcare plans (total coverage capped at very low amounts). There are likely to be a wide array of unintended consequences resulting from the Affordable Care Act and other legislation in the U.S. and around the world.
In addition to any positive or negative unintended consequences of current or future legislation, the U.S. healthcare system will be faced with a series of dramatic changes unlike anything we’ve seen before. Patients are more informed, engaged, and financially invested in their healthcare than ever before. And as a result, provider and biopharma organizations are following patients’ lead and recalibrating themselves as patient-centric, consumer driven organizations. Moreover, healthcare costs are rising at unsustainable rates. As these major trends drive healthcare change, there will be a new emphasis on maximizing healthcare value, with a particular emphasis on improving quality, increasing access, and reducing costs.
This executive summary captures and examines some of the insights, ideas, best practices, and new perspectives from the Symposium and the broader healthcare legislation discussion. It is meant to serve as a summary and a resource of the innovative ideas and insights regarding legislation for healthcare and the life sciences. We hope that you find it to be both thought-provoking and useful, and we welcome your feedback. We thank you for your interest, and hope this can be an asset for you and your organization.
Joseph Gaspero, President & Co-Founder, Center for Healthcare Innovation
Sam Horn, Analyst, Center for Healthcare Innovation