4 min read.Updated: 10 May 2017, 04:46 AM ISTLivemint
Its clumsy approach doesn't bode well for the cooperation with the private sector outlined in the recent National Health Policy
Government regulations have unintended consequences. This is an axiom of policymaking. The Narendra Modi administration’s recent moves in healthcare demonstrate how failing to anticipate these consequences results in poor policies. Following the imposition of price controls on coronary stents in February, the inevitable happened. Companies like Abbott Healthcare Pvt. Ltd and Medtronic India Pvt. Ltd moved to withdraw some models of their stents from the Indian market. The government’s response—throwing the regulatory rulebook at the companies—was as ham-handed as the price controls had been. Now, with reports that the government is considering expanding the scope for price control in various ways—bringing medical devices directly under the Drug Price Control Order (DPCO), 2013, and provisions for reducing drug prices even when they are below the ceiling price—its broader approach to healthcare warrants scrutiny.
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