Panel, Conference Presentation
California's Solutions to Health Care
Milken InstituteAnna Gorman, Kimberly Evon, Yiwen Li, Josh Ofman, Hugh Waters, Claudia Williams, Kim Avon
- California requires an addition of 200,000 home care jobs by 2024, a 36% increase, with industry estimates projecting a need for between 600,000 and 3.2 million additional workers by 2030.
- Demographic shifts indicate California's population aged 65 or older will rise to 23 percent in 20 years, contrasting with 14 percent in 2016.
- Current home care workforce turnover stands at 33 percent.
- U.S. cardiovascular disease spending is forecast to increase from $600 billion annually to $900 billion by 2030, while Alzheimer's disease is projected to cost society over $1 trillion by 2050.
- Approximately 95 percent of human clinical trials currently fail, necessitating that Amgen's research and development engine generate returns to support an annual investment of $3.5 billion to $4 billion.
- Genomic testing is expected to reduce unnecessary breast cancer chemotherapy by over 30 percent and save more than $600 million in colorectal cancer system costs through KRAS gene testing prior to treatment.
- Future healthcare strategies include equal attention to prevention via telemedicine and precision medicine, shifting payment models from volume-based to predictive and protective frameworks, and advancing toward universal healthcare.
- Proposals include federal budget robustness, payer coverage of genomic testing, FDA regulation of the genomic space, and California establishing a common information backbone to support home and community care.
- Key systemic challenges involve aligning incentives to address waste, as the U.S. healthcare system contains substantial funds available for allocation if managed efficiently.