These are all arguments that reducing regulation could reduce costs. That’s not in question. The question is how much scope there is to reduce costs by reducing regulation, which depends on how much of the cost is the result of regulation.
You cite an order-of-magnitude difference between Japanese and American MRI costs. Do you think it likely that 90% of the cost of an MRI in the US is the result of regulation?
I do think that the cost difference is largely a result of how the system of incentives and rules is setup. I don’t think it’s because the hardware is radically cheaper in Japan.
I don’t think that laws will get passed to reduce the price by 90% in the US during the next term.
These are all arguments that reducing regulation could reduce costs. That’s not in question. The question is how much scope there is to reduce costs by reducing regulation, which depends on how much of the cost is the result of regulation.
You cite an order-of-magnitude difference between Japanese and American MRI costs. Do you think it likely that 90% of the cost of an MRI in the US is the result of regulation?
I do think that the cost difference is largely a result of how the system of incentives and rules is setup. I don’t think it’s because the hardware is radically cheaper in Japan.
I don’t think that laws will get passed to reduce the price by 90% in the US during the next term.