Will full implementation of the Patient Protection and Affordable Care Act of 2010 (PPACA) increase competiton in the health care market or decrease it?
Witnesses debated that question today at a hearing organized by Rep. Lamar Smith, R-Texas, chairman of the House Judiciary Committee subcommittee that handles issues involving competition.
Dr. Scott Gottlieb, a resident fellow at the American Enterprise Institute, Washington, argued that PPACA will reduce the level competition and the overall supply of health care, by turning doctors into salaried, less productive wage slaves and reducing the supply of capital entrepreneurs need to create new and better ways to deliver health care.
Traditionally, venture capitalists have helped entrepreneurs develop innovations such as health maintenance organization plans and long-term care hospitals, Gottlieb said, according to a written version of his testimony posted on the committee website.
In some cases, Gottlieb said, the entrepreneurs have profited by moving patients to lower-cost settings, from high-cost settings, and taking a share of the savings.