3 ms·

So much of technical progress happens through delivering most of the value of the previous solution at a fraction of the cost (email vs postal mail). Society se

• william42 15y ago
  The problem with healthcare is not that progress is being ruled out but that healthcare is highly labor-driven. So far there's no machinery that can replace a doctor. http://en.wikipedia.org/wiki/Baumol_effect http://en.wikipedia.org/wiki/Baumol_effect
  • pash 15y ago
    > The problem with healthcare is not that progress is being ruled out but that healthcare is highly labor-driven. So far there's no machinery that can replace a doctor. As a matter of policy, the FDA will not approve any device that makes a medical diagnosis without human intervention. [1] Recently there have been numerous studies and much punditry accusing the American medical regulatory environment of stifling innovation and driving up costs. [2][3][4] The arguments are strikingly similar to Cowen's argument re autonomous cars. [1]: http://www.technologyreview.com/biomedicine/37596/ http://www.technologyreview.com/biomedicine/37596/ [2]: For a quick summary, see http://reason.com/blog/2011/05/25/will-fda-regulation-kill-the-m http://reason.com/blog/2011/05/25/will-fda-regulation-kill-t... [3]: A much discussed recent report [PDF] is at http://www.nvca.org/index.php?option=com_docman&task=doc_download&gid=668&Itemid=93 http://www.nvca.org/index.php?option=com_docman&task=doc... [4]: An article in JAMA opined similarly [PAYWALL], http://jama.ama-assn.org/content/305/15/1523.extract http://jama.ama-assn.org/content/305/15/1523.extract