Study analyzes health reform economic impact in Colorado

Denver Metro Chamber of Commerce event previews report authored by health policy expert Len Nichols with review and comment by the University of Denver’s Center for Colorado’s Economic Future

Nationally renowned health care policy expert Len Nichols will join state economic expert Henry Sobanet to discuss a new study about the economic impact of maintaining Colorado’s current health care system. The pair will present their findings at the Denver Metro Chamber of Commerce’s seventh annual Health Care Policy Luncheon, presented by Exempla Healthcare.

DMCC President and CEO Kelly Brough said, "Now, more than ever, is the time for us to keep our fingers on the pulse of the ever-changing dynamics of health care in America. This study will give our attendees a new picture of Colorado’s health care issues – and how our system could change."

The study was initiated and supported by The Colorado Trust and the Colorado Health Foundation in an effort to inform and engage Colorado’s business community and opinion leaders around the state in discussions on health care reform.

A 10-year projection of Colorado’s current health care system found that certain challenges will continue to cause a cycle of rising health care costs, higher premiums and increased strain on Colorado households, employers and governments.

"The upward trend of Colorado’s health care costs has significant implications for the economy," said Henry Sobanet, president of Colorado Strategies. "Constantly rising health care costs result in lower profits for Colorado businesses, lower wages for Colorado workers and less revenue for the public sector. Over time, other priorities are crowded out."

"Increasing health insurance coverage in Colorado will result in increased economic output in the state and more jobs, even when the costs of that expanded coverage are taken into consideration," said Len Nichols, director of the health policy program at the New America Foundation. "Improving the value and efficiency of Colorado’s health care system will free up fiscal resources for other state priorities and, over time, result in higher quality care delivered at a lower cost."