The concept of cost-effectiveness in medicine is elastic. One’s view on this issue depends upon who is paying the cost. Of course, this is true in all spheres of life. When you’re in a fine restaurant, you order differently when the meal will be charged to someone else. Under these circumstances, the foie gras appetizer and the jumbo shrimp cocktail are no longer luxuries, but are considered as essential amino acids that are necessary to maintain life.
In the marketplace, except in the medical universe, goods and services are priced according to what the market will bear. If an item is priced too high, then the seller will have fewer sales and a bloated inventory. Consumers will not pay absurd prices for common items, regardless of supernatural claims of quality.
- Would you pay $100 for an ice cream sundae that boasted it was the best in the world?
- Would you pay $1000 for a tennis racket that promised performance beyond your ability?
- Would you pay $500 for a box of paper clips that never lose their tension? Read more »
*This blog post was originally published at MD Whistleblower*