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December 10, 2014

Peterson Fund Puts $200-Million Into Cutting Health Costs

The Peter G. Peterson Foundation has launched a $200-million health-care initiative aimed at finding low-cost solutions for improving medical treatment, Marketplace reports. Jeffrey Selberg, executive director of the new Peterson Center on Healthcare, says it will devote its resources to finding inexpensive best practices in patient care, "validating them and then figuring out how to facilitate the rapid adoption across the country."

Mr. Peterson, the billionaire co-founder of financial firm the Blackstone Group, has drawn liberal critics who worry the health initiative will mirror his foundation's focus on cutting federal spending, according to Bloomberg. Foundation President Michael Peterson, Peter Peterson's son and a veteran of Democratic campaigns, said the new effort has no political agenda. Its advisory board includes both critics and proponents of Obamacare as well as Bill Gates and Kaiser Family Foundation head Drew Altman.