What does Prednisone do to help people with Emphsema ? Is there anything that
Does that better?

I am guessing it reduces swelling and allows someone to breathe easier.

For asthma it helps heal the bronchi tubes. When your asthma is acting up they are rough and raw. That is how my asthma doctor explained it to me. Now I realize they are different diseases but they are similar as both have to do with the lungs.
Do you see a lung specialist? I would ask him/her for pros and cons of treatment methods so you can make an informed decision about your health.