Stephen T Parente

Stephen T Parente

Professor, Minnesota Insurance Industry Chair of Health Finance
Finance

Contact

Education:

  • BA 1987
    Health and Society University of Rochester-New York
  • MS 1988
    Public Policy Analysis University of Rochester-New York
  • MPH 1989
    Health Economics University of Rochester-New York
  • PhD 1995
    Health Finance and Organization Johns Hopkins University

Expertise:

  • Health economics
  • Health insurance
  • Health information technology
  • Medical technology evaluation

Biography

STEPHEN T. PARENTE, Ph.D., MPH, MS is a Professor in the Department of Finance and the Minnesota Insurance Industry Chair of Health Finance in Carlson School of Management at the University of Minnesota and Associate Dean of the Global Institute. From 2014-2017, he served as Associate Dean of MBA and MS programs. Dr. Parente is the longest-serving Director of the Medical Industry Leadership Institute (2006-2017). As a Professor in the Finance Department, he specializes in health economics, information technology, and health insurance.  Dr. Parente has been the principal investigator on large funded studies regarding consumer-directed health plans, health information technology, and health policy micro-simulation.  In Washington DC, he served as Chief Economist for Health Policy and Senior Economist on the Council of Economic Advisers in the Executive Office of the President at the White House in Washington, DC from 2019 to 2021. Previously, he was Senior Adviser to the Secretary for Health Economics in the Department of Health and Human Services, Vice-Chair of Academy Health, and the Governing Chair of the Health Care Cost Institute from 2013 to 2017.  He is the Founding Director of the Medical Valuation Laboratory, a nine-college interdisciplinary effort to accelerate medical innovation from scientists, clinicians, and entrepreneurs.  Dr. Parente was a health policy advisor for the McCain 2008 Presidential Campaign and served as Legislative Fellow in the office of Senator John D. Rockefeller IV (D‑WV) in 1992/93.  He has a doctorate from Johns Hopkins University.

Selected Works & Activities

  • Journal Articles
    Parente, S.T., Feldman, R., Spetz, J., Dowd, B. and Eagen, E. “Wage Growth for the Health Care Workforce: Projecting the Affordable Care Act Impact. Health Services Research. 2016 May 3. doi: 10.1111/1475-6773.12497.
  • Journal Articles
    Newman, D., Barrette, E. Parente, S.T., Kennedy, K. An Examination of Commercially Insured Health Care Service Prices in the U.S. Health Affairs, 2016 May 1;35(5):923-7.
  • Journal Articles
    Parente, S.T., Oberlin, S., Tomai, L. and Randall, D. The Potential Savings of Using Predictive Analytics to Staunch Medicaid Fraud. J Health Med Econ. 2016, 2:2.
  • Journal Articles
    McCullough, J., Parente, S.T., Town, R. “Health Information Technology on Patient Outcomes: The Role of Organizational and Informational Complementarities.” The RAND Journal of Economics 47(1):207-236 · January 2016,
  • Journal Articles
    Frogner, B.K., Frech, H.E., Parente, S.T. “Comparing Efficiency of Health Systems across Industrialized Countries: A Panel Analysis.” BMC Health Services Research 15(1):415 · September 2015.
  • Journal Articles
    Frogner, B.K., Spetz, J., Parente, S.T., Oberlin, S. “The Demand for Healthcare Workers Post-ACA.” International Journal of Health Economics and Management, 2015; 15(1): 139-151.
  • Journal Articles
    Munnich, E., Parente, S.T. “Procedures Take Less Time At Ambulatory Surgery Centers, Keeping Costs Down And Ability To Meet Demand Up.” Health Affairs, May, 2014; 33(5):764-9.
  • Journal Articles
    Herrera, C., Newman, D., Parente, S.T. “Overcoming Barriers to a Research-Ready National, Commercial Claims Database.” American Journal of Managed Care, 2014; (11 Spec No. 17):eSP25-eSP30.
  • Journal Articles
    Chen, S., Feldman, R., Parente, S.T. “A Five Year Study of Health Expenditures among Full Replacement CDHPs, Optional CDHPs, and Traditional Managed Care Plans.” Insurance Markets and Companies: Analyses and Actuarial Computations, Issue 1, Volume 5, 20
  • Journal Articles
    Spetz, J., Parente, S.T., Town, R.J., Bazarko, D. “Scope-Of-Practice Laws For Nurse Practitioners Limit Cost Savings That Can Be Achieved In Retail Clinics.” Health Affairs, November 2013 vol. 32 no. 11 1977-1984.
  • Journal Articles
    Herrera, C.N., Gaynor, M., Newman, D., Town, R.J. Parente, S.T. “Growth Of Per Capita Employer-Sponsored Insurance Spending Slowed To Historically Low Levels, 2007–11.” Health Affairs, 2013 October; 32(10):1715-22.
  • Journal Articles
    Frech, H.E., Parente, S.T., Frogner, B., Hoff, J. “Comparing the sensitivity of models predicting health status: a critical look at an OECD Report on the efficiency of health systems.” Forthcoming in Insurance Markets and Companies: Analyses and Actuaria
  • Journal Articles
    Parente, S.T., Feldman, R. “Micro-simulation of Private Health Insurance and Medicaid Take-up Following the U.S. Supreme Court Decision Upholding the Affordable Care Act.” Health Services Research. 2013 Apr; 48(2 Pt 2):826-49.
  • Journal Articles
    Parente, S.T., Schulte, B., Jost, A., Sullivan, T., Klindworth, A. “Assessment of Predictive Modeling for Identifying Fraud within the Medicare Program.” Health Management and Policy Innovations. 1(2), 8-37, 2012.
  • Journal Articles
    Gupta, A., Parente, S.T. Sanyal, P. “Future of Health Insurance Procurement: Lessons from the Online HMO Auctions.” International Journal of Health Care Finance and Economics, 2012 Dec; 12(4):303-22.
  • Journal Articles
    Parente, S.T. “Health economics and policy: towards the undiscovered country of market based reform.” International of Health Care Finance and Economics, 2012 Sep; 12(3):247-52.
  • Journal Articles
    Randall, D. and Parente, S.T. “U.S. Medicaid managed care markets: explaining state policy choice variation.” Insurance Markets and Companies: Analyses and Actuarial Computations, Issue 4, Volume 2, 2011.
  • Journal Articles
    Chernew, M., Frank, R.G., Parente, S.T. “Slowing Medicare Spending Growth: Reaching for Common Ground.” American Journal of Managed Care, 2012, 18(8):465-468.
  • Journal Articles
    Parente, S.T., Feldman, R., Abraham, J.M., and Xi, Wendy. "Consumer Response to a National Marketplace for Individual Insurance". Journal of Risk and Insurance, Volume 78, Issue 2, pages 389–411, June 2011,
  • Journal Articles
    Parente, S. "Exploring Ex Ante Regulatory Mechanisms for Detecting Prescription Drug Misuse", NBER, (In Regulation vs. Litigation; editor D. Kessler), 2011.
  • Journal Articles
    Evans, W., Morrill, M., Parente, S. “Measuring Inappropriate Medical Diagnosis and Treatment in Survey Data: The Case of ADHD among School-Age Children”, Journal of Health Economics, 4 August 2010.
  • Journal Articles
    Klindworth, A., Parente, S. "Lessons Learned for Medical Banking from the Financial Services Industry: The Case of a Fraud Prevention Platform as Transformative Innovation." International Journal of Medical Banking, Volume 3, 2010.
  • Journal Articles
    Dowd, B., O'Connor, H., McGrail, M., Calasanz, M., Gorman, R., Sheasby, B., Parente, S. "The Economic Impact of a Disability Prevention Program." J Occup Environ Med. 2010 Jan;52(1):15-21.
  • Journal Articles
    Feldman, R., Parente, S. “Enrollee Incentives in Consumer Directed Health Plans: Spend Now or Save for Later?” Forum for Health Economics and Policy. Vol. 13 (2010) / Issue 2.
  • Journal Articles
    Parente, S., McCullough, J. "Health Information Technology and Patient Safety: Evidence from Panel Data." Health Affairs, March/April, 2009.
  • Journal Articles
    Parente, S. "Health Information Technology and Financing’s Next Frontier: The Potential of Medical Banking." Business Economics, January, 2009.
  • Journal Articles
    Parente, S., Phelps, C., O’Connor, P. “Economic Analysis of Medical Practice Variation between 1991 and 2000: Gauging the Impact of Ten Years of Patient Outcomes Research.” International Journal of Technology Assessment in Health Care, 2008 Jul; 24 (3):2
  • Journal Articles
    Parente, S. and Feldman, R. Evolution and Early Evidence of the Impact of Consumer Driven Health Plans: From e-commerce to Health Savings Accounts. Pharmacoeconomics and Outcomes Research, 8(4), 2008.
  • Journal Articles
    Parente, S, Mandelbaum, K, Hanson, SP, Cassidy, BS, Simborg, DW. Can the National Health Infrastructure Network (NHIN) Reduce the Cost of Healthcare Fraud? Journal of the Healthcare Information Management, Volume 22, Issue 3, Summer, 2008.
  • Journal Articles
    Parente, S., Feldman, R., Chen, S. The Effect of a Consumer-Driven Health Plan on Pharmaceutical Cost and Use. Health Services Research, May 13, 2008.
  • Journal Articles
    Parente, S. and Feldman, R. Do HSA Choices Interact with Retirement Savings Decisions?, Tax Policy and the Economy, Vol. 22, 2007.
  • Journal Articles
    Parente, S. Christianson, J., Feldman, R. Consumer Directed Health Plans and the Chronically Ill. Disease Management & Health Outcomes., 239-248(10), 2007.
  • Journal Articles
    Feldman, R., Parente, S., Christianson, J. Consumer Directed Health Plans: New Evidence on Cost & Utilization. Inquiry. Vol. 44, No. 1, pp. 26-40, 2007.
  • Journal Articles
    Parente, S., Van Horn, R.L. The Value of Hospital Investment in Information Technology in For-Profit and Not-for-Profit Hospitals Health Care Financing Review, Winter 2006/2007.
  • Journal Articles
    Adams, T., Finkelstein S., Parente, S.T., Hertz, M. Cost Analysis of Home Monitoring in Lung Transplant Recipients. International Journal of Technology Assessment in Health Care, 23(1), 2007.
  • Journal Articles
    Welch, P. Rudolph, B.A., Blewett, L., Parente, S.T., Brach, C., Love, D., Harmon, R.G. Management Tools for Medicaid and State Children's Health Insurance Program (SCHIP). Journal of Ambulatory Care Management, October-December, 2006, (29): 272-282.(forth
  • Journal Articles
    Health Savings Accounts: Early Estimates of National Take-up from the 2003 Medicare Modernization Act and Future Policy Proposals, R. Feldman, S. T. Parente, J. Abraham, J. Christianson, and R. Taylor, Health Affairs (November-December 2005).
  • Journal Articles
    Changes in Health Care Use and Expenditures of Medicare HMO Disenrollees Who Return to Fee-for-Service Medicare: Results from a Natural Experiment, S. T. Parente, W. Evans, S. Schoenman, and M. Finch, Health Care Financing Review (Spring 2005).
  • Journal Articles
    The Impact of Medicare HMO Closures on Beneficiaries, J. Schoenman, S. T. Parente, W. Evans, M. Finch, and M. Shah, Health Care Financing Review (Spring 2005).
  • Journal Articles
    The Role of Consumer Knowledge on the Demand for Preventive Health Care Among the Elderly, S. T. Parente, D. Salkever, and J. DaVanzo, Health Economics (January 2005).
  • Journal Articles
    Using Claims Data to Identify Controlled Substance Patterns of Utilization Requiring Evaluation, S. T. Parente, S. Kim, M. Finch, L. Schloff, T. Rector, R. Seifeldin, and J. D. Haddox, American Journal of Managed Care (November 2004).
  • Journal Articles
    Employee Choice of Consumer-Driven Health Insurance in a Multiplan, Multiproduct Setting, S. T. Parente, R. Feldman, and J. B. Christianson, Health Services Research (August 2004).
  • Journal Articles
    Evaluation of the Effect of a Consumer-Driven Health Plan on Medical Care Expenditures and Utilization, S. T. Parente, R. Feldman, and J. B. Christianson, Health Services Research (August 2004).
  • Journal Articles
    Consumer Experiences in a Consumer-Driven Health Plan, J. B. Christianson, S. T. Parente, and R. Feldman, Health Services Research (August 2004).
  • Journal Articles
    National Health Data Warehouse: Issues to Consider, L. Blewett, S. T. Parente, M. Finch, and E. Peterson, Journal of the Health Care Information Management (Winter 2004).
  • Journal Articles
    The Role of the Private Sector in Monitoring Health Care Quality, L. Blewett, S. T. Parente, M. Finch, and E. Peterson, The Joint Commission Journal on Quality Improvement (August 2003).
  • Journal Articles
    Defined Contribution Health Insurance Products: Development and Prospects, J. Christianson, S. T. Parente, and R. Taylor, Health Affairs (January 2002).
  • Journal Articles
    Is Information Technology Related to the Financial Performance of U.S. Hospitals? An Exploratory Analysis, S. T. Parente and J. Dunbar, International Journal of Health Care Technology and Management (2001).
  • Journal Articles
    Beyond the Hype: A Taxonomy of Business Models for E-Health Commerce, S. T. Parente, Health Affairs (November-December 2000).
  • Journal Articles
    The Impact of Subsidizing Medicare Copayments and Deductibles for Low-Income Elderly on Medical Care Use: The Case of Qualified Medicare Beneficiaries, S. T. Parente and W. Evans, Health Care Financing Review (Winter 1998).
  • Journal Articles
    Profiling Medicare Beneficiary Resource Use by Primary Care Practices: Implications for a Managed Medicare, S. T. Parente, J. Weiner, D. Garnick, J. Fowles, A. Lawthers, and R. Palmer, Health Care Financing Review (Summer 1996).
  • Journal Articles
    Potential Savings form Using Information Technology Applications in Health Care in the United States, P. Neumann, S. T. Parente, and L. Paramore, International Journal of Technology Assessment in Health Care (1996).
  • Journal Articles
    Developing a Quality Improvement Database Using Health Insurance Data: A Guided Tour with Application to Medicare's National Claims History File, S. T. Parente, J. P. Weiner, D. Garnick, T. Richards, J. Fowles, A. Lawthers, P. Chandler, and R. H. Palmer,
  • Journal Articles
    Variation in Office-Based Quality: A Profile of Care Provided to Medicare Patients with Diabetes, J. Weiner, S. T. Parente, D. Garnick, J. Fowles, A. Lawthers, and R. Palmer, Journal of the American Medical Association (May 1995).
  • Journal Articles
    Focus on Quality: Profiling Physicians'' Practice Patterns, D. Garnick, J. Fowles, A. Lawthers, J. Weiner, S. T. Parente, and R. H. Palmer, Journal of Ambulatory Care Management (July 1994).
  • Journal Articles
    Priority Setting in Medical Technology and Medical Practice Assessment, C. Phelps and S. T. Parente, Medical Care (August 1990).
  • Current Research

    Microsimulation of health reform choices, particularly health savings accounts under different incentive scenarios

  • Administrative Appointments

    Director, Medical Industry Leadership Institute, University of Minnesota, 2006-2017.

    Associate Dean, MBA Programs & MS, Carlson School of Management, 2014-2017.

  • Current Research

    National health IT impact

  • Current Research

    Evaluation of consumer-driven health plans, including the trade-offs between health and wealth portfolio choices

  • Current Research

    Comparative effectiveness analysis

  • Current Research

    Analysis of potentially cost-saving medical innovations

  • Current Research

    Medicare & Medicaid saving from waste, fraud and abuse prevention

  • Honors and Awards

    Faculty Media Star Award, Carlson School of Management, University of Minnesota, 2010.

    Special Recognition winner of Pioneer Institute’s Better Government Competition for ‘A National Market for Individual Health Insurance’, 2009.

    Faculty Research Award, Carlson School of Management, University of Minnesota, 2006.

    Faculty Media Star Award, Carlson School of Management, University of Minnesota, 2005.

    The Class of 1981 Faculty Member of the Year Award. University of Minnesota, Masters of Healthcare Administration program, 2005.

    Faculty member appointment to Delta Omega honor society, Alpha Chapter (Johns Hopkins University), 2002.

    John P. Young Student Prize for best student paper in health finance and economics.  Johns Hopkins School of Hygiene and Public Health, 1993.

  • Research Grants

    Consumer-Driven Health Plans: Here to Stay or Market Fad & Robert Wood Johnson Foundation, 2004-08 (principal investigator)

  • Research Grants

    Consumer-Driven Health Plans, continuation of research, Department of Health and Human Services, 2005-06 (principal investigator)

  • Research Grants

    Identifying the Impact of Consumer-Driven Health Plans on Prescription Drug Cost and Use, 2005-06 (principal investigator)

  • Research Grants

    Assessing the Impact of Health Savings Accounts on Insurance Coverage and Costs, U.S. Department of Health and Human Services, 2004-05 (principal investigator)

  • Community Relationships

    Director, Medical Valuation Laboratory, University of Minnesota, 2008-present.

    Governing Chair, Health Care Cost Institute, 2013-2017, Treasurer/Secretary 2011-2013.

    Local Conference Organizer, 2012 American Society for Health Economics, 2008-2012.

    Sponsorship Chair, Health Information Management Systems Society, Minnesota, 2002-2006.

    Board Member, Academy Health, 2014 to present.

    Board Member, Emeriti, 2013 to 2017. 

  • Editorial Appointments

    Reviewer, Journal of the American Medical Association

  • Editorial Appointments

    Reviewer, Journal of Productivity Analysis

  • Editorial Appointments

    Reviewer, Medical Care

  • Editorial Appointments

    Reviewer, Health Affairs

  • Editorial Appointments

    Reviewer, Journal of Health Economics

  • Research Grants

    The National Impact of Health IT of Quality of Care, Agency for Healthcare Research and Quality, 2008-2010, PI10

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