Thought Leader, New Marketplace

Michael Chernew, PhD

Leonard D. Schaeffer Professor of Health Care Policy and Director, Healthcare Markets and Regulation Lab
Harvard Medical School


Michael Chernew, PhD, is the Leonard D. Schaeffer Professor of Health Care Policy and the Director of the Healthcare Markets and Regulation (HMR) Lab in the Department of Health Care Policy at Harvard Medical School. Dr. Chernew’s research activities focus on several areas, most notably the causes and consequences of growth in health care expenditures, payment reform, and Value Based Insurance Design (VBID).

Dr. Chernew is a member of the Congressional Budget Office’s Panel of Health Advisors and of the Institute of Medicine Committee on National Statistics. Dr. Chernew is the former Vice Chair of the Medicare Payment Advisory Commission, which is an independent agency established to advise the U.S. Congress on issues affecting the Medicare program. In 2000, 2004, and 2011, he served on technical advisory panels for the Centers for Medicare and Medicaid Services that reviewed the assumptions used by the Medicare actuaries to assess the financial status of the Medicare trust funds. In April 2015, Massachusetts Governor Charlie Baker appointed Dr. Chernew to the Massachusetts Health Connector Board of Directors. Dr. Chernew is a Research Associate of the National Bureau of Economic Research.

He currently serves as Co-Editor of the American Journal of Managed Care and Editor for the Journal of Health Economics. In 2010, Dr. Chernew was elected to the Institute of Medicine of the National Academy of Sciences and served on the Committee on the Determination of Essential Health Benefits. Dr. Chernew earned his undergraduate degree from the University of Pennsylvania and a doctorate in economics from Stanford University.

Figure 1. Differential Changes in Total Medicare Spending for Patients in Accountable Care Organizations (ACOs), According to the Type of ACO, Year of Entry, and Number of Years of Participation.

New Marketplace

Medicare Spending after 3 Years of the Medicare Shared Savings Program

After 3 years of the MSSP, participation in shared-savings contracts by physician groups was associated with savings for Medicare that grew over the study period, whereas hospital-integrated ACOs did not produce savings (on average) during the same period.

Chernew04_pullquote targeted supplemental data collection

Care Redesign

Targeted Supplemental Data Collection — Addressing the Quality-Measurement Conundrum

Targeted supplemental data collection may be a valuable approach to balancing data needs with data-collection costs.

New Marketplace

Who Will Succeed with New Payment Models? Part 2

At the end of the day, the delivery system has to become efficient.

New Marketplace

Who Will Succeed with New Payment Models? Part 1

Winners will be providers who translate today’s inefficiencies into tomorrow’s profits.

New Marketplace

Controlling the Cost of Medicaid

Both political parties should support policies that focus on incentives as a mechanism for improving and sustaining their value.

New Marketplace

Let Efficient Providers Prosper

Basic market principles are the key to a high-quality, low-cost, sustainable health care system.

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