As the United States moves closer to the 2024 presidential election, scheduled for less than three weeks from now, significant transformations within the healthcare landscape are anticipated depending on whether Kamala Harris or Donald Trump emerges victorious. This was the focal point of discussions during a recent webinar hosted by the international consultancy firm Berkeley Research Group (BRG), which analysed the differing healthcare stances of the two primary candidates.
Corporate Governance and Healthcare Antitrust Initiatives
The webinar highlighted the potential differences in healthcare policy under either administration. Thomas O’Neil, Managing Director at BRG, posited that a Harris presidency would likely adopt a more aggressive approach towards antitrust enforcement compared to a Trump-led administration. During the current Biden-Harris administration, there has been an unprecedented rise in antitrust investigations conducted by the Department of Justice. In comparison, the previous Trump-Pence administration engaged in fewer of these investigations, though it did challenge prominent mergers such as the CVS Caremark-Aetna deal. Both candidates, however, have shown a keen interest in enhancing Medicare Advantage.
According to O’Neil, the Biden-Harris administration has focused on promoting transparency and reinforcing data systems within the Medicare Advantage insurance sector. Trump, during his presidency, enacted executive orders to bolster access to savings accounts and limited long-term care expenses for Medicare Advantage beneficiaries. O’Neil also suggested that Harris's administration might adopt a stringent stance on healthcare fraud, contrasting with the more flexible regulatory standards seen during Trump’s previous term.
Value-Based Care and Medicaid Policies
Patrick Dooley, another Managing Director at BRG, turned the discussion towards the Affordable Care Act (ACA) and Medicaid. The Biden-Harris administration had expanded ACA exchange subsidies until the end of 2025, and Harris is expected to support further extensions. The Trump administration, in contrast, attempted unsuccessfully to repeal the ACA.
When considering Medicaid, Dooley forecasted that Harris might pursue expansion initiatives, especially in states where Medicaid has not been previously expanded, to address health-related social needs. Conversely, Trump is anticipated to reinstate efforts to impose work requirements on Medicaid recipients, potentially reduce the program's reach, or introduce block grants for states.
Artificial Intelligence in Healthcare
Surprisingly, when it comes to the regulation of Artificial Intelligence (AI) within healthcare, both Harris and Trump show converging perspectives. As noted by Amy Reeder Worley, Managing Director at BRG, both candidates appear favourable towards fostering AI innovations, focusing on enhancing patient, provider, and payer experiences. Harris’s background in the technology-rich environment of California and Trump's ties to Silicon Valley suggest a shared optimism for AI's potential benefits.
Drug Pricing Reforms
John Barkett, Managing Director at BRG, pointed to the impending task awaiting the next president regarding the implementation of the Inflation Reduction Act, which includes Medicare drug price negotiations. Should Harris be elected, it is anticipated she will continue developing existing drug pricing reforms initiated during the Biden administration. Expansion of drug negotiations, caps on insulin prices, and enhanced oversight of pharmacy benefit managers are among the anticipated measures under her leadership.
In contrast, Trump may explore international reference pricing to align Medicare drug costs with those in other countries and attempt to revive previously uninstated reforms like eliminating rebates and easing formulary standards in Medicare Part D.
As the election date draws closer, healthcare remains a pivotal aspect of the candidates' policy portfolios, presenting varied paths forward contingent upon the electoral outcome.
Source: Noah Wire Services