Why a new resolution to stimulate growth is likely.
Some professional economists are calling the recent drop in unemployment a dead cat bounce.
By definition, a dead cat bounce is a temporary recovery in share prices after a substantial fall, caused by speculators buying in order to cover their positions.
The uptick in employment may not be the sign of recovery that some are hoping. Time will tell.
However, President Trump tweeted a negative statement about the Green New Deal this week which leads me to believe the political winds of change are blowing.
Green New Deal
The Green New Deal is a resolution to address climate change and equality. A resolution simply means that a strategy takes national priority.
The Green New Deal is commonly associated with Alexandria Ocasio-Cortz [AOC] who has been labeled a socialist and part of the far left. Don’t be put off. The labels are meant to create fear by those who are resisting change.
An example of this labeling from the stimulus package following the Great Recession is the Accountable Care Act [ACA]. As you know, the ACA attempted to close the coverage gaps and establish the technology framework needed to modernize the healthcare system. Even though the need was clear and the funding was provided, many resisted the change. Some even referred to it and still refer to it as a “government take over of healthcare”.
The outcome of the ACA was not perfect but it reduced the number of Americans uninsured and provided the framework needed to enhance the data capture that will enable research and better resource management. It also created new jobs and spurred innovation within the industry. None of which amounts to a government take over of healthcare.
Healthcare is a component of the Green New Deal. Whether or not we see a national system as part of a new resolution is questionable but insurance reform is expected.
Other Expectations
I’ve been participating in some calls this week that are shedding some light into what we can expect in a new resolution.
1/ Interoperability + Data Repository
There seems to be wide spread acknowledgement that the system is too fragmented to meet the needs of researchers and consumers.
2/ Public Health
There needs to be more focus on public health as opposed to facilities so that the industry can get ahead of disease.
3/ Regulations
Talk about the need for speed in drug development surfaced which always leads me to believe that we’ll see a reduction in regulations.
Culture
One discussion was about establishing the right culture that will give the public more confidence in public-private partnerships.
The key values that surfaced are:
1/ Honesty
2/ Trust
3/ Transparency
For organizations adopting these values, define the behaviors that support the value and those that don’t so that there is no misinterpretation.
Other conditions that need to be present for a successful partnerships are:
1/ Common Purpose
2/ Digital Maturity
3/ Clinical Leadership
