Sunday, December 25, 2016

A Few Simple Free Market Ways To Lower The Cost Of Healthcare In The U.S.

Posted: 12/25/2016

Introduction

This is only food for thought! This is by far not a complete list of reform measures!

For decades, the cost of health care has risen exorbitantly and unjustifiably  in most Western countries for largely similar reasons. It is the prevalent and dominating Road to Serfdom socialism in those countries mostly responsible for it.

A Few Simple Ways

  1. Abolish the prescription requirement for most drugs! More over the counter drugs please (incl. e.g. antibiotics)!
  2. Empower patients! Patients should have the right to try new, unproven medications, medical devices, or therapies!
  3. More competition is urgently needed!
  4. Substantially reduce and shorten the extensive intellectual property protections for medications, medical devices, and therapies!
  5. Substantially reduce the medieval guild powers of the medical establishment (doctors, nurses, medical schools)! This lobby has become far too powerful for any democratic society!
  6. Substantially relax licensing of medical professionals!
  7. Diversify and open up medical training. Medical training should again include training on the job or over the Internet etc.! Why do nurses or doctors have to go through mandatory several years of expensive medical schools and residency training?
  8. Reciprocity of approval. Medications, medical devices, and therapies approved in one (Western) country should be automatically approved in other (Western) countries. There could still be a proviso of a temporary approval to monitor the safety of the product.
  9. Public health agencies should only approve medications, medical devices, or therapies exclusively on the basis of safety not including efficacy or other considerations!
  10. Importation of medications, medical devices, and therapies need to be deregulated!
  11. Expand and allow for more mutual insurance companies where citizens join voluntarily to cover the cost of fellow citizens (Rampant statism and socialism has largely driven out this historical approach)

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