Wednesday, April 2, 2014

Inject a Little Competition into Our Health-Care System

  If we look, we can see some reasons why health care is so expensive. We've reduced competition in many ways. We license extensively. We limit the insurance choices at the workplace. We require doctors to be part of our network before we can see them. We limit the number of medical schools allowed in each state. We have patent rights that go too far in limiting who can produce drugs and medical devices.
  What if we were to change these things? Wouldn't it make sense that the price of health care would drop? How much, I do not know, but I think we should try the simple remedies that are before our eyes and see how much difference it makes in reducing the cost of medicine. Inject more competition into our system. Bring it back. We've been eroding the free market's ability to work in our health-care system for decades. Then one day we woke up and said, "Hey, this is too expensive. What's wrong? How can we get health-care costs to go down, or is that even possible?"
   Of course it is possible. But, we need to do the things that are right before our eyes.

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