Jeffrey F. Werling, PhD
Inforum/University of Maryland
"The Supply Side of Health Care"
There is a common assertion that health care is over one-sixth of the economy (in 2012 it was 17.2 per cent). This conclusion, however, is based only on a measure of health care demand. It is much more difficult to identify a corresponding ratio in the supply side data of the economy, that is, health care in terms of value added and employment.
Work we have accomplished in collaboration with CMS reconciles information about the supply and demand sides of the national health sector. In particular, we use input-output techniques to link the final demand values from the National Health Expenditure Accounts (NHEA) to domestic production and imports of commodities, industry value added, and industry employment. We find that in 2012, health care production required about 15.4 percent of total value added in the economy and 18.7 percent of civilian employment. In addition, domestic health care demand required about 1.5 percent of GDP in imports.
Jeff Werling is Executive Director of Inforum. In addition to managing the day-to-day activity at Inforum, he serves as principal investigator for special projects applying Inforum modeling systems. He has completed recent studies on the economic implications of energy policy, immigration, exchange rate fluctuations, and port disruptions due to terrorist strikes. Jeff also teaches an undergraduate course in economic development. Previously, he held positions as an international and industry economist with the National Electrical Manufacturers Association (NEMA), the Manufacturers Alliance (MAPI), and the WEFA Group (now Global Insight). Jeff received a PhD in economics from the University of Maryland in 1992.
Registration is open through Wednesday, 5-13-15.
Press: Please email :firstname.lastname@example.org with your attendance status and the date of attendance. It will be assumed that lunch is NOT requested. If lunch is requested, please contact me in advance, prior to the date of the event, for registration and payment instructions.
Credit Card payment is non refundable but you may substitute someone in your place for attendance.