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Health Care

Americans spend significantly more on health care than any other country. Why? Answers to this question range from hospital monopolies to perverse incentives to opaque pricing to medical licensing to pharmaceutical firms abusing IP practices to “creeping consolidation.” Why is the US health care system so broken? And what can antirust do about it? Catch-up on our coverage of antitrust and the US health care system.

Antitrust and Competition

Can the FTC’s PBM Complaint Create a Competitive Pharmaceutical Marketplace?

Fiona Scott Morton
Fiona Scott Morton reviews the merits of the Federal Trade Commission’s complaint against the three largest pharmacy benefit managers (PBMs) for suppressing competition in pharmaceutical markets. Although the complaint’s alleged harms are narrow, it is a welcome start that promises to shed light on the PBM’s expansive anticompetitive practices and ultimately lower drug prices for Americans.
Commentary

How Has the Affordable Care Act Fared After Ten Years?

David Ennis
David Ennis evaluates how well the Affordable Care Act has met its expectations and where it has fallen short ten years after its implementation.
Book Excerpts

Food for Thought

Marion Nestle
An excerpt from the second edition of Marion Nestle's book, Food Politics: How the Food Industry Influences Nutrition and Health, out now.
Commentary

We Need Better Research on the Relationship Between Market Power and Productivity in the Hospital Industry

David Ennis
Antitrust debates have largely ignored questions about the relationship between market power and productivity, and scholars have provided little guidance on the issue due to data limitations. However, data is plentiful on the hospital industry for both market power and operating costs and productivity, and researchers need to take advantage, writes David Ennis.
Book Excerpts

Lowering the Barriers to Entry for Economics Research in Healthcare

Filippo Lancieri
A new collection of scholarly work on the economics of the US healthcare sector is released today. The following is an adaptation of the...
Health Care

Rethinking How To Achieve Universal Health Care Coverage in the US

Katherine Baicker
Solutions to expanding heath care coverage in the U.S. are often incremental and focus on mitigating market failures. In new research, Katherine Baicker, Amitabh...
Antitrust and Competition

Antitrust Enforcement Is Not Enough to Address Anticompetitive Conduct in Pharmaceutical Markets. Market-Oriented Legal Reform is Needed.

Alden Abbott
Federal antitrust enforcement has been robust and effective in promoting prescription drug market competition and thereby enhancing consumer welfare. Antitrust enforcement in itself, however,...
Antitrust and Competition

Competition Problems in Prescription Drug Market

Michael Kades
Although not the sole cause of high prescription drug costs, abusive practices that distort competition contribute to the problem. Too many companies exclude competition...
Antitrust and Competition

Why the FTC Should Consider Size in Drug Mergers

Patricia M. Danzon
Large pharmaceutical firms retain their dominance through size-related advantages in three areas: contracting, marketing and selling, and financing. When reviewing pharmaceutical mergers, the Federal...
Antitrust and Competition

The Covid-19 Pandemic Should Not Delay Actions to Prevent Anticompetitive Consolidation in US Health Care Markets

Leemore Dafny
Harvard Business School professor Leemore Dafny lays out potential reforms to assist agencies in halting anticompetitive acquisitions and practices, and to preserve and promote...
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The publication of the Stigler Center at The University of Chicago Booth School of Business

ProMarket is dedicated to discussing how competition tends to be subverted by special interests. The posts represent the opinions of their writers, not necessarily those of the University of Chicago, the Booth School of Business, or its faculty. For more information, please visit ProMarket Policy.