Michael E. Chernew, PhD
Dr. Chernew’s research examines several areas related to controlling health care spending growth while maintaining or improving quality of care. His work on consumer incentives focuses on Value-Based Insurance Design (VBID), which aligns patient cost sharing with clinical value. Several large companies have adopted these approaches and Dr. Chernew’s ongoing work includes evaluations and design of such programs. His work on payment reform involves the evaluation of bundled payment initiatives, including global payment models that include pay-for-performance components. Related research examines the effects of changes in Medicare Advantage payment rates. Additional research explores the causes and consequences of rising health care spending, and geographic variation in spending, spending growth and quality.
Dr. Chernew earned his undergraduate degree from the University of Pennsylvania and his Ph.D. in economics from Stanford University, where his training focused on areas of applied microeconomics and econometrics. In 1998 he was awarded the John D. Thompson Prize for Young Investigators by the Association of University Programs in Public Health. In 1999 he received the Alice S. Hersh Young Investigator Award from the Association of Health Services Research. Both of these awards recognize overall contribution to the field of health services research. In 2000, 2004 and 2010, he served on technical advisory panels for the Center for Medicare and Medicaid Services (CMS) that reviewed the assumptions used by the Medicare actuaries to assess the financial status of the Medicare trust funds. On these panels, Dr. Chernew focused on the methodology used to project trends in long-term health care cost growth. His 2008 article in Health Affairs, “Impact of Decreasing Copayments on Medication Adherence within Disease Management Program,” was awarded the Research Award from the National Institute for Health Care Management.
Dr. Chernew is a member of the Congressional Budget Office’s Panel of Health Advisors and of the Institute of Medicine’s Committee on National Statistics (CNSTAT). Dr. Chernew is also a Research Associate of the National Bureau of Economic Research. In 2011 he served on the Institute of Medicine’s Committee on Determination of Essential Health Benefits and in 2010 was elected to the Institute of Medicine of the National Academy of Sciences. Dr. Chernew is the former Vice Chair of the Medicare Payment Advisory Commission (MedPAC), which is an independent agency established to advise the U.S. Congress on issues affecting the Medicare program. Dr. Chernew serves as the Co-Editor of the American Journal of Managed Care and Senior Associate Editor of Health Services Research. He has also served on the Editorial Boards of Health Affairs and Medical Care Research and Review.