On the Road to Rationing

“When government controls so much of health spending, it can quash investments in innovation and interfere with the natural processes of scientific investigation by denying payment and therefore blocking access to its huge markets. Many investigations are better than one centralized government body in determining whether a product is efficacious. Governments too often make decisions in silos. Integrated private plans are more likely to see the overall benefit of paying for a costly drug to avert an even more expensive hospitalization.”