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Forbes: Obamacare Disincentives Medical Innovation

Posted in Politics

A recent article published by Forbes.com purports that Obamacare is harming the American healthcare system.  While the healthcare system we had before the Affordable Care Act was not perfect, it was more fundamentally sound than after the ACA took effect.  Problems with U.S. Health Care System should have been closely examined in 2009 and appropriate changes could have been made but the Obama administration failed to focus on the positive aspects of the U.S. Health Care System and fundamentally changed the way it works.  Obama took away fiscal incentives, the drive to create the best medicines, and the need to provide high quality patient care.  A healthcare provider who has the most advanced medicine practices and the best medicines available will be worth more to the general public, and thus Howard believes this incentive-based drive to be the best is no longer applicable as the fact that the government is taking over the entire system.

Forbes reports that before the Affordable Care Act was installed, as much as 80 percent of American citizens were happy with the care they were receiving.  Of course, before the ACA, many Americans had no health insurance – thus no healthcare to be happy or sad about.

Obama told the American public that his system would not force anybody to lose their plan and make them shift over to Obamacare.  We now see that this is not exactly the case.  Only time will tell whether the care provided to those required to switch coverage plans will have been for the better.  Paul Howard of Forbes believes that as the Affordable Care Act takes some of the choice out of healthcare, the overall quality of the American healthcare system will sharply decline.  This too is yet to be seen.

Howard also purports that the invention of new medications will drastically slow because the pharmaceutical companies that develop these medications won’t have any incentives to be the best:  let the private health care system that created the world’s best medical therapies in the world do its job.