Nearly everyone agrees that some reforms are needed. But it is also vital to protect areas of excellence and innovation. Stanford University professor Scott Atlas points out that from 1998 to 2002 nearly twice as many new drugs were launched in the U.S. as in Europe. According the U.S. Pharmaceutical Industry Report, some 2,900 new drugs are now being researched here. America’s five top hospitals conduct more clinical trials than all the hospitals in any other developed country, according to Mr. Atlas. And a McKinsey Co. study reports that 40% of all medical travelers come to the United States for medical treatment.
These are some of the costs–the unanticipated consequences (diminished drug research)–associated with a single-payer system.
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