Obamacare: Reducing Quality and Innovation
The United States has the best doctors, nurses, and providers in the world and has long been a pioneer in discovering new cures. Unfortunately, Obamacare’s rules and regulations are diminishing quality and stifling innovation throughout the health care sector. Patients no longer believe they are receiving the best care possible. U.S. consumers are no longer the first to benefit from new therapies and technologies.
· According to a 2016 patient survey, the most important thing to patients is a personal health care experience with their preferred provider that does not require the patient to be rushed through their exams.
· High quality, personalized care has been diminished by the Affordable Care Act. In fact, 25% of people report that Obamacare has personally hurt them.
· In a recent survey of physicians on their impressions of the ACA, over 60% of physicians responded that the ACA has had a negative impact on the quality of care patients receive nationwide.
· Investments in medical innovation, which drive personalized medicine, have also decreased since 2010. Obamacare imposed over $500 billion in new taxes that stifle innovation and capital investment.
· Today, developing new drugs costs over $2.5 billion and takes an average of 14 years – costs that are passed on to patients in the form of higher prices and reduced access to treatments.
· Obamacare’s medical device tax has contributed to discouraging investment in medical technology. For example, venture capital investment is down for all stages of development – early, growth, and later stages – since 2009.