HOUSE_OVERSIGHT_020998.jpg
2.51 MB
Extraction Summary
2
People
9
Organizations
0
Locations
0
Events
2
Relationships
4
Quotes
Document Information
Type:
Presentation slides / policy analysis report
File Size:
2.51 MB
Summary
This document contains two slides (pages 313 and 314) from a KPCB (Kleiner Perkins) presentation titled 'USA Inc. | What Might a Turnaround Expert Consider?'. The slides analyze potential cost savings in US healthcare through tort reform, citing Congressional Budget Office (CBO) data from late 2009. The document discusses caps on malpractice damages, statute of limitations changes, and estimated savings of $54 billion over 10 years for federal programs like Medicare and Medicaid.
People (2)
| Name | Role | Context |
|---|---|---|
| Orrin G. Hatch | Senator (Honorable) |
Recipient of a letter from the Congressional Budget Office cited as a source.
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| John D. Rockefeller IV | Senator (Honorable) |
Recipient of a letter from the Congressional Budget Office cited as a source.
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Organizations (9)
| Name | Type | Context |
|---|---|---|
| Congressional Budget Office |
Source of the data and proposals listed in the slides.
|
|
| CBO |
Acronym for Congressional Budget Office.
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|
| KPCB |
Kleiner Perkins Caufield & Byers (Venture Capital firm); logo present on slides.
|
|
| Medicare |
Government healthcare program discussed for restructuring.
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| Medicaid |
Government healthcare program discussed for restructuring.
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| Children’s Health Insurance Program |
Government healthcare program.
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| Federal Employees Health Benefits |
Government healthcare program.
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| USA Inc. |
Conceptual entity used in the presentation title (referencing the 'USA Inc.' report series likely by Mary Meeker).
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| House Oversight Committee |
Implied by the Bates stamp 'HOUSE_OVERSIGHT'.
|
Relationships (2)
Source citation mentions letter from CBO to Hatch.
Source citation mentions letter from CBO to Rockefeller.
Key Quotes (4)
"Tort Reform Could Reduce Incentives of Defensive Medicine"Source
HOUSE_OVERSIGHT_020998.jpg
Quote #1
"CBO estimates that a package of typical tort reform proposals could reduce total US health spending by 0.5% annually"Source
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Quote #2
"Over 10 years, CBO estimated tort reform could reduce net healthcare spending by $54 billion"Source
HOUSE_OVERSIGHT_020998.jpg
Quote #3
"Spending for Medicare, Medicaid, Children’s Health Insurance Program, and Federal Employees Health Benefits could fall ~$41 billion over the next decade"Source
HOUSE_OVERSIGHT_020998.jpg
Quote #4
Full Extracted Text
Complete text extracted from the document (2,482 characters)
Restructure Medicare & Medicaid: Legal Factors—Possible Solution
Tort Reform Could Reduce Incentives of Defensive Medicine
Tort Reform Could Reduce Incentives of Defensive Medicine
Ways to control costs from tort litigation without jeopardizing patient health
The CBO listed a package of tort reform proposals (10/09):
• Cap of $250,000 on awards for noneconomic damages for malpractice
• Cap on awards for punitive damages of $500,000 or twice the award for economic damages, whichever is greater
• Modification of the “collateral source” rule to allow evidence of income from such sources as health and life insurance, workers’ compensation, and automobile insurance and subtract it from jury awards
• A statute of limitations – one year for adults and three years for children – from the date of discovery of an injury
• Replacement of joint-and-several liability with fair-share rule: Defendants would be liable only for the percentage of a final award equal to their share of responsibility
• Cap on awards for punitive damages of $500,000 or twice the award for economic damages, whichever is greater
• Modification of the “collateral source” rule to allow evidence of income from such sources as health and life insurance, workers’ compensation, and automobile insurance and subtract it from jury awards
• A statute of limitations – one year for adults and three years for children – from the date of discovery of an injury
• Replacement of joint-and-several liability with fair-share rule: Defendants would be liable only for the percentage of a final award equal to their share of responsibility
Source: Congressional Budget Office, Letter to the Honorable Orrin G. Hatch dated October 9, 2009; Congressional Budget Office, Letter to the Honorable John D. Rockefeller IV dated December 10, 2009
KP
CB www.kpcb.com
USA Inc. | What Might a Turnaround Expert Consider? 313
KP
CB www.kpcb.com
USA Inc. | What Might a Turnaround Expert Consider? 313
Restructure Medicare & Medicaid: Legal Factors—Possible Solution
Tort Reform Could Save USA Inc. $54 Billion Over Next 10 Years
Tort Reform Could Save USA Inc. $54 Billion Over Next 10 Years
• CBO estimates that a package of typical tort reform proposals could reduce total US health spending by 0.5% annually:
– Direct savings: Roughly 0.2% of this reduction stems from lower national premiums for medical malpractice insurance.
– Indirect savings: Another 0.3% stems from slightly lower utilization of services related to defensive medicine.
– Direct savings: Roughly 0.2% of this reduction stems from lower national premiums for medical malpractice insurance.
– Indirect savings: Another 0.3% stems from slightly lower utilization of services related to defensive medicine.
• Over 10 years, CBO estimated tort reform could reduce net healthcare spending by $54 billion:
• Spending for Medicare, Medicaid, Children’s Health Insurance Program, and Federal Employees Health Benefits could fall ~$41 billion over the next decade (with the greatest savings in Medicare).
• Federal tax revenues could rise by ~$13 billion as lower health insurance costs for employers could lead to higher take-home pay for employees and therefore higher income taxes for USA Inc.
• Spending for Medicare, Medicaid, Children’s Health Insurance Program, and Federal Employees Health Benefits could fall ~$41 billion over the next decade (with the greatest savings in Medicare).
• Federal tax revenues could rise by ~$13 billion as lower health insurance costs for employers could lead to higher take-home pay for employees and therefore higher income taxes for USA Inc.
Source: Congressional Budget Office, Letter to the Honorable Orrin G. Hatch dated October 9, 2009; Congressional Budget Office, Letter to the Honorable John D. Rockefeller IV dated December 10, 2009
KP
CB www.kpcb.com
USA Inc. | What Might a Turnaround Expert Consider? 314
KP
CB www.kpcb.com
USA Inc. | What Might a Turnaround Expert Consider? 314
HOUSE_OVERSIGHT_020998
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