Hospital wage and price controls: lessons from the Economic Stabilization Program.
Ozminkowski, Ronald J
Date of Pub
Coit, Anne J; Gabay, Mary; Gaumer, Gary L
The Clinton Administration has implied that short-run failures to control health care costs may cause a reexamination of wage
and price controls as elements of comprehensive health care reform. The most recent imposition of mandatory wage and price
controls was the Economic Stabilization Program (ESP) of the early 1970s. We analyze trends in hospitals' economic behavior
and utilization before, during, and after ESP. We also review the relevant literature to estimate ESP's impact, considering
other factors that influence hospital behavior. Noting important changes in the hospital industry since the 1970s, we conclude
that ESP had limited effect and that similar controls would have little effect today.
Cost Control/legislation & jurisprudence/trends : Cost-Benefit Analysis : Data Collection : Health Care Reform/economics :
Hospital Charges/legislation & jurisprudence/statistics & numerical data : Income/statistics & numerical data : Inflation,
Economic : Rate Setting and Review : Salaries and Fringe Benefits/legislation & jurisprudence/statistics & numerical data
: Support, U.S. Gov't, Non-P.H.S. : United States