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Economy & Business

The Only Prescription Is More Transparency

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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.

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