The Obama economic team is in place—now what?

President-elect Obama has named key members of his economic team. Now they have the task of administering a two year plan that is designed to create 2.5 million new jobs. At the center of the plan is fixing the nation’s infrastructure including roads and schools as well as alternative energy initiatives. The new Treasury secretary, Timothy Geithner, will also oversee dispersal of the rest of the $700 billion financial rescue package. Congress says it will work to have a huge economic stimulus package on the President-elect’s desk by the time he is sworn in as President. The details of this package have yet to be revealed.

Can healthcare really be fixed?

In an article in Johns Hopkins magazine, Search for an RX, Michael Anft takes a look at the healthcare system and what issues are breaking it down and the problems facing government in trying to fix the ailing system. He gathered Hopkins administrators, economists, physicians, and researchers and asked them six questions to get an understanding of the current healthcare system and the way it could look in the future.

Can universal health care work?
Some are in favor of universal health care. They feel that universal health care would go a long way toward lowering the costs brought upon the healthcare system by the uninsured and help people avoid the catastrophe of not being able to pay for care. On the other side of the argument are those that say if health costs continue to rise, universal health care may not be possible. Their other argument is that there may not be enough primary care physicians to treat 300 million people. A study done by the National Association of Community Health Centers states that about 60,000 more primary care physicians to treat so many people.

How will we pay for it?
The Physicians for a National Health Program, an advocacy group, says that a single payer program with the government as the sole insurer could save as much as $350 billion per year. Hopkins administrators and professors say that because of the clout of drug and insurance lobbyists, this type of plan will never happen. A more likely plan is one for those without public or private insurance with the government guaranteeing a minimum of coverage to the entire U.S. population. Some states who were tired of waiting, like Massachusetts, Oregon, and Maryland, have made attempts to make health care more affordable for their residents.

Will we have to ration care to afford it?
This is a very ethical question. Americans are used to an availability of a full range of services and range to value choice. They may not like the idea of rationing care but other Westernized countries limit the number of tests and treatments they will pay for but because these countries have longer life expectancies and lower infant mortality rates because people are seen more often on a regular basis by doctors. This conversation has to be happening within the industry in order for the system to be fixed. The outcome of this conversation will determine how affordable countrywide health care will be.

How can we make health car more affordable?
There are a lot of inefficiencies within the health care system that help costs rise. Uninsured people and others who cannot pay their bills and visit emergency rooms for care cost the system almost $30 billion each year. Another problem is the fee-for-services system that favors high-cost specialists which explains the lack of low-paid primary care doctors. A possible solution would be a pay-for-performance system like the one in the United Kingdom which rewards those who treat the entire population and who practice good medicine. At the same time there should be disincentives for prescribing unnecessary or redundant tests. Another issue that if fixed could save 10% of total outlay on health care would be automation. A coordinated, nationwide system that could deliver electronic medical records to emergency rooms, hospital wards, and private physicians would make patient care more efficient. This is still a pipe dream because less than 40% of health care providers are able to use electronic medical records.

Can we improve quality while driving costs down?
A way to improve care while lowering costs is by re-emphasizing primary care. The more physicians there are, the more mortality is reduced. Rural areas currently have a shortage of primary care physicians. Another thing is for doctors to use a simple checklist that would decrease infections and deaths, especially doctors in intensive-care units. Standardizing hospital care in the entire country across hospital staff and looking at what’s working in other countries in terms of prevention methods would save millions.

How do we provide better care to the elderly and save Medicare?
Medicare faces financial deficits that threaten its future. Health providers and researchers are looking into ways to spend Medicare money more efficiently. The biggest problem is the U.S. ranks number one in the rate of people who suffer from chronic diseases which is very expensive to treat. Also, we have a medical system that is acute-care based and spends money on research for these diseases like heart attacks and strokes. We need a system that focuses on chronic-care based and looks at patients holistically instead of one body part at a time.

It’s clear that the problems are large but it’s finally time that they started being tackled. Americans deserve access to affordable health care and a system that works for them.

Cabinet shaping up to be all-star cast

In the last week or so, names for the Obama administration have been leaked and some confirmed. The economic team was named by the president-elect yesterday in a news conference. The SEC chairman has not been named yet but Wall Street is still rallying. Senator Hilary Clinton is in line to be Secretary of State, Governor Bill Richardson of New Mexico is set to become Secretary of Commerce, and Governor Janet Napolitano of Arizona is set to head up Homeland Security. The Obama Administration is shaping up to be an all-star cast. The question is whether or not President-elect Obama can guide these big egos to get some work done in Washington.

The next Treasury secretary has his work cut out for him

Recent polls show many Americans believe that who President-elect Barack Obama picks as Secretary of the Treasury will be the most significant decision in terms of America’s future. The next Treasury secretary will need to oversee the $700 billion rescue plan and decide how to best use the $350 billion not yet allotted. Many names are being floated but no cabinet positions have been announced. Some feel a Treasury secretary needs to be announced sooner rather than later so they can work with current Secretary Paulson during the transition. The analysts and the media will have to wait like everyone else. The new President will not be rushed.

Tips to reduce the worry in your life

Life can be stressful. As the recession deepens life is more stressful. This is a problem. Constant feelings of stress can suppress your immune system, disrupt sleep, and trigger inflammation. This can create an environment for chronic diseases like arthritis, type 2 diabetes, heart disease, and gastrointestinal problems. Here are a few tips to help you naturally reduce the stress in your life.

Admit and accept that you are worried. This will make you feel better and more in control so that you can take positive steps to deal with your stress.

Try Rhodiola. This Siberian herb is an “adaptogen” and helps your body normalize its response to stress. Other herbs that fit into this category include Asian and American ginseng, astagalus, licorice, crodyceps, reidi, and others. Be sure to consult a physician and holistic doctor before taking the herb.

Use guided imagery for a quickie meditation. A few minutes of listening to an audio spa treatment will help you feel calmer and less worried. Visit healthjourneys.com to find an audio treatment to try.

Turn on your iPod and go for a walk. Going for a 30-min walk daily will lower your blood pressure and increase endorphins which will increases endorphins and elevates your mood. The music will help the time fly by. Start walking and you’ll feel your stress melt away.

He’s working hard but taking his time

President-elect Obama is familiarizing himself with his new job but he is clear that there can only be one president at a time. He won’t make a decision until after his inauguration in January. While he waits he is setting his priorities and selecting his cabinet members so that he can be ready to lead American on day one.

Political analysts and the media are busy speculating about who will be part of the Obama administration. The GOP is busy reorganizing the Republican Party and revising the party platform. Wall Street is on a bumpy ride while American automakers are trying to remain in business. Other large companies, like Citigroup, are also trying to stay alive by laying off thousands of workers. Economists are now saying that America entered a recession in April and the recession will last into the second quarter of 2009. While the economy will get worse before it gets better, economists and financial analysts are hopeful. Gas prices have fallen to around two dollars and home heating prices should remain flat this winter. This bodes well for the new president.

Historic election does not reflect in the market

Today the Dow fell more than 400 points. This adds to the points lost on Wednesday. This erases the pre-election gains the market made. President-Elect Obama says that repairing the economy is a priority but he won’t get started until Jan. 20 so we’ll just have to ride the wave until next year and probably most of next year too before we see things begin to normalize.

I have yet to look at my IRA. I figure I will take a look at the end of the year and just go from there. I don’t need to be more depressed. I’m happy with the falling gas prices and it seems I’m spending a bit less at the grocery store. I pay for my own health insurance and it seems my premiums will be going up next year so I have to adjust it and hope I still get the same level of coverage at a better price. As the new President and the government do what they can to fix things and work with Wall Street, I will be on Main Street tightening my budget as much as possible and finding new ways to create wealth in my life.

Is healthcare relief coming in the near future?

It’s official. Our new commander-in-chief is President-Elect Barack Obama. Last night was a historic night in American history. Today is a new day and it’s back to reality. The economy is in the toilet and healthcare is one of those areas that needs to be addressed. The state of the economy may mean that a lot of President-Elect Obama’s plans, like healthcare, may be implemented later or a lot more slowly than anticipated.

I don’t know about other Americans but I just got my renewal letter for my health insurance and my premium is going up. It was ironic because I also got a letter from my energy company and my electric bill was going down but then I opened my health insurer’s letter and any savings I was happy about immediately evaporated. I now have to look into adjusting my premium which may mean having decreased coverage but what can I do? I can afford what I can afford. While I am happy that President Obama won, I am hoping that this time next year my financial situation is not so heavy that I can barely breathe.

Election Day is Here!

It couldn’t have come sooner. Well, maybe it could have. Tomorrow I can go back to seeing what else is on television. Whoever wins, the election is over and George Bush and his administration can start packing their bags. Hip Hip Hooray!

On a sadder note, Senator Obama’s grandmother lost her battle with cancer late Sunday night. My prayers go out to him and his family. I wish both him and Senator McCain good luck today.