Deputy Assistant Attorney General Andrew J. Forman delivered a compelling speech at the Capitol Forum: Health Care Competition Conference, sounding the alarm on critical issues plaguing the U.S. healthcare industry. Hosted at the National Press Club in Washington, D.C. on Oct. 26, Forman's remarks shed light on the urgent need to safeguard competition within this vital sector, which accounts for nearly 20% of the nation's GDP.
Forman commenced his address by underscoring the importance of addressing competition woes in the healthcare sector. "In U.S. antitrust enforcement and competition policy, there is no more important question than what can we do to safeguard competition in the healthcare industry," Forman remarked.
Forman commenced his address by underscoring the importance of addressing competition woes in the healthcare sector. "There is little doubt that key aspects of competition in the healthcare industry are broken," Forman stated.
Amidst a personal reflection, "I, like I hope many of you, have tremendous respect for the people who make up our healthcare system and am grateful for the important work they do," Forman noted. He acknowledged the paradox of healthcare in the United States – a system with both exceptional resources and glaring competitive issues.
Despite the personal value of healthcare, Forman emphasized, "The system has real competitive problems, and these problems impact real people in real ways," Forman stated. He cited alarming statistics and empirical studies from leading economists, all pointing to the unhealthy state of competition in the U.S. healthcare industry.
While Forman acknowledged the role of antitrust enforcement in addressing these issues, he cautioned against viewing it as a cure-all. "Let me be clear on one point however: antitrust enforcement should be part of the solution, but it is not a magic potion to cure all the competitive ills of the healthcare industry," Forman cautioned.
Forman concluded his address with a call to action, urging healthcare stakeholders to actively engage in addressing competition concerns. "In closing, I just want to remind people one last time that if we are to maximize progress in addressing the critically important competition issues in the healthcare industry, we really need your help," Forman emphasized.
