Comments on: Medical Care and Market Forces http://www.thefreemanonline.org/columns/medical-care-and-market-forces/ Just another WordPress weblog Sun, 22 Nov 2009 03:49:48 -0500 http://wordpress.org/?v=2.8.6 hourly 1 By: Tommy http://www.thefreemanonline.org/columns/medical-care-and-market-forces/comment-page-1/#comment-3077 Tommy Wed, 25 Feb 2009 19:32:28 +0000 http://www.thefreemanonline.org/uncategorized/medical-care-and-market-forces/#comment-3077 The prices in foreign markets are lower due to government price controls in those markets. The US is the largest free market for drug companies in the world. It's the reason foreign manufacturers allow the FDA into their companies - they want into the US market to make profits they cannot realize or, to overcome losses in foreign markets due to those same government price controls. Most people do not realize the US is the last free market. But, that will soon change as more government control is introduced to "control" prices to consumers. As was mentioned, the pharmaceutical companies will have no choice but to limit research, limit production, or go out of business. The end result is a controlled industry is not a profitable industry. The best health care system in the world will cease to exist. We'll see restrictions on treatment due to age, longevity expectations, survivability, etc... On the flip side, if the other countries would eliminate their price caps and get out of government health care, we'd see much lower prices in this country since those foreign nations would have to shoulder their fair share of the costs. The prices in foreign markets are lower due to government price controls in those markets. The US is the largest free market for drug companies in the world. It’s the reason foreign manufacturers allow the FDA into their companies – they want into the US market to make profits they cannot realize or, to overcome losses in foreign markets due to those same government price controls.

Most people do not realize the US is the last free market. But, that will soon change as more government control is introduced to “control” prices to consumers. As was mentioned, the pharmaceutical companies will have no choice but to limit research, limit production, or go out of business. The end result is a controlled industry is not a profitable industry. The best health care system in the world will cease to exist. We’ll see restrictions on treatment due to age, longevity expectations, survivability, etc…

On the flip side, if the other countries would eliminate their price caps and get out of government health care, we’d see much lower prices in this country since those foreign nations would have to shoulder their fair share of the costs.

]]> By: Ron Dionne http://www.thefreemanonline.org/columns/medical-care-and-market-forces/comment-page-1/#comment-2984 Ron Dionne Tue, 24 Feb 2009 14:40:35 +0000 http://www.thefreemanonline.org/uncategorized/medical-care-and-market-forces/#comment-2984 Okay, I've read your article twice. Now please explain why the exact same medicines are available in Mexico at a fraction of the U.S. prices? Okay, I’ve read your article twice. Now please explain why the exact same medicines are available in Mexico at a fraction of the U.S. prices?

]]> By: Dennis Bowland, pharmacist http://www.thefreemanonline.org/columns/medical-care-and-market-forces/comment-page-1/#comment-1730 Dennis Bowland, pharmacist Wed, 04 Feb 2009 20:50:46 +0000 http://www.thefreemanonline.org/uncategorized/medical-care-and-market-forces/#comment-1730 It is wonderful to see this piece from an economist that I respect. I have always believed that high health care costs and primary care physician and access shortages have been caused by Medicare, Medicaid, regulation on insurance companies (such as laws requiring a minimum hospital stay for new mothers), and the plethora of regulation of the health care industry such as licensing boards, the FDA, HIPAA, OSHA, CLIA, etc, etc, etc. It is wonderful to see this piece from an economist that I respect. I have always believed that high health care costs and primary care physician and access shortages have been caused by Medicare, Medicaid, regulation on insurance companies (such as laws requiring a minimum hospital stay for new mothers), and the plethora of regulation of the health care industry such as licensing boards, the FDA, HIPAA, OSHA, CLIA, etc, etc, etc.

]]> By: Robert Sussman http://www.thefreemanonline.org/columns/medical-care-and-market-forces/comment-page-1/#comment-1712 Robert Sussman Wed, 04 Feb 2009 13:49:51 +0000 http://www.thefreemanonline.org/uncategorized/medical-care-and-market-forces/#comment-1712 I would also add that shortages, such as kidneys for transplantation or blood for transfusion are due to government price controls. Remove the ban on payment to donors, and the supply would increase to match the demand. Robert Sussman, MD I would also add that shortages, such as kidneys for transplantation or blood for transfusion are due to government price controls. Remove the ban on payment to donors, and the supply would increase to match the demand. Robert Sussman, MD

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