The missing technology

Bianca Frogner ()

Applied Health Economics and Health Policy, 2010, vol. 8, issue 6, 371 pages

Abstract: This article explores human capital investment to understand cross-sectional variation and differences in growth of health spending among the US, Australia and Canada. Using a human capital model developed by Mincer, the article examines how rate of return to schooling and years of schooling impact wage rate levels in healthcare. The model is extended to approximate the probable trajectory of healthcare wage rate growth and thus the impact on health spending. The results suggest that a higher rate of return to schooling and a more educated healthcare workforce in the US may contribute to higher healthcare wage rates and thus contribute to higher health spending levels than in Canada and Australia. The results also suggest that average healthcare wage rates are growing at the rate of potential GDP; healthcare wage rates are not driving the growth of health spending. Copyright Adis Data Information BV 2010

Date: 2010
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DOI: 10.2165/11531430-000000000-00000

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