Health capital policy in the United States: a strategic perspective.

Health capital policy is strategically important not only because of the long-term nature of capital commitments but also because capital requirements often drive institutional behavior far out of proportion to dollars expended. The authors offer a framework for analyzing U.S. health capital policy, much of which is indirect and not always understood to be health capital policy. They emphasize the complex interaction between capital policy and health system configuration and performance, and highlight the long-term effects of current capital policy. They conclude with a likely configuration of the future U.S. health care system and with a discussion of the strategic role of capital policy in creating that future.