Effects of the Medicare Prospective Payment System on Hospital Cost Containment: An Early Appraisal
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abstract
In the 1970s and early 1980s it was commonly believed that the control of hospital costs could only be achieved by regulatory mechanisms that applied to the hospital system as a whole. There was a clear rationale for this view, namely that, if one controlled only one segment, costs would merely be shifted to the unregulated segment and no overall cost reductions would occur. Certificate-of-need and state rate-setting programs had this underlying philosophy