NPR Podcast: The Only Prescription Is More Transparency
Listen to NPR’s “The Indicator” podcast here!
Healthcare is a giant part of the economy, and a huge drain on the public purse. More than a quarter of federal government spending goes to healthcare, which makes it a very political issue.
President Trump has stated his intention to create a more consumer friendly healthcare system… more market-based. Part of that is increasing price transparency for prescription drugs and medical procedures.
One move might be to post the prices of certain medical procedures online, with a view to having a truly competitive market drive prices lower. Mark Maffett of the University of Chicago’s Booth School talked to us about a study his team did of markets where this is already happening.