During this week’s Saturday presidential address, Obama continued the hot topic of healthcare reform in the public sector by announcing and advocating for cuts in Medicare and Medicaid spending in the short term. Obama called for slowing annual Medicare payment increases to hospitals, medical device-makers, outpatient treatment facilities and other providers in order to encourage them to deliver more cost-effective care. He also advocated cutting federal subsidies for hospitals that treat the uninsured, and paying lower prices for drugs under Medicare’s outpatient prescription drug benefit.

[youtube]http://www.youtube.com/watch?v=6j12NRuH4gM[/youtube]

Text of Obama’s speech here. [PDF]

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