Insolvency is on the horizon for Social Security, Medicare funds, expert says. These changes may help

Paragon’s Joe Albanese was quoted in CNBC following his appearance on a panel at CRFB on April 4, 2023. From the article:

One of the factors that has helped reduce Medicare spending in recent years is the shift of hip and knee replacements from in-patient hospital procedures to outpatient and ambulatory settings, noted Joe Albanese, policy analyst at the Paragon Health Institute, a health policy research institute.

The development comes after regulatory restrictions that required those services to be provided in in patient settings were lifted, he noted.

“These are the types of flexibilities and innovations that we should be seeking throughout the Medicare program,” Albanese said.

The savings not only helps with Medicare Part A hospital insurance solvency, but also may contribute to the fiscal sustainability of the program as a whole, he said.

The full article can be found on CNBC’s website.

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