Government Drug Price Controls: Endangering Your Health and Safety

Craig Huey Culture Wars, Economics, Free Markets and Socialism 2 Comments

If you need medical help, would you go to a doctor or a bureaucrat?

You want the best care, affordable and patient-centered. You want quality, and someone who knows how to provide it. You want choices and speed.

And yet …

For decades, liberals and Big Government progressives have wanted to make government bigger, introducing command-and-control intervention into health care: which is government/bureaucracy centered, instead of patient-centered.

Their latest scheme? To introduce price-fixing, or government negotiations in the Medicare drug buying and selling business.

Nothing ensures disaster to consumers—you and me– like government intervention.

When government gets involved in the drug industry, the following happens:

  1. Less innovation: the incentive to create new medicines or discover more cost-efficient processes
  2. Rationing: the medications which people need the most they are unable to purchase because of shortages
  3. Corruption: Access to the best—and the cheapest—health care starts to depend on who you know in government, rather than through the marketplace where everyone has a chance to search and buy what they want and can afford.
  4. Crony capitalism: a select number of corporations take advantage of price-fixing and government regulations to benefit themselves while pushing out competitors to their own advantage.

price-control-sign

Nothing can compete with the private sector, which can:

  • Innovate new and better drugs
  • Properly provide products without fear of shortages
  • Help all consumers
  • Stop Big Pharma from manipulating prices and monopolizing sales

And nothing beats the free market for negotiating and controlling drug prices.

Why?

When different drug companies compete, they have to offer the most quality product while cutting costs.

Government comes in and reduces competition and choice.

Consider this example.

Right now, Medicare Part D covers 274 drugs, and 254 are available through the broader Federal Employees Health Benefits Program formularies, which allows consumers to choose among different drug companies.

Compare that with the Veterans Administration, where the government purchases all the medications—no competition–and only 215 are available through the Veterans Administration formularies.

Less freedom means less choice and inferior health care.

The key is for the Federal Drug Administration (FDA)—plagued by a bloated bureaucracy, crony capitalism, and over-regulations—to get out of the way. They need to let innovation and competition drive down the costs—not enable the unnecessarily high prices we are experiencing today.

Freedom and choice make all the difference, including in health care and drug prices

Tell me what you think. Email me at [email protected].

Comments 2

  1. OUR GOVERNMENT HAS MANDATED, BY LAW, THAT EVERY U.S PERSON OR ENTITY, PRIVATE OR PUBLIC, PAY THE FULL RETAIL PRICE FOR MEDICATIONS, THAT IS WHY WE CAN BUY THE SAME MEDICATION OUTSIDE OF THE U.S. FOR 80% LESS, WHY DON’T YOU REVEAL THIS CORRUPTION IN YOUR REPORT.

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