As millions of Americans are aware, health care costs continue to
increase rapidly. Much of this increase is due to the development
of new life-sustaining drugs and procedures, but part of it is due
to the increased monopoly power of physicians, insurance companies,
and hospitals, as the health care sector undergoes reorganization
and consolidation. There are two tools to limit the growth of
monopoly power: government regulation and antitrust policy. In this
timely book, Deborah Haas-Wilson argues that enforcement of the
antitrust laws is the tool of choice in most cases.
The antitrust laws, when wisely enforced, permit markets to
work competitively and therefore efficiently. Competitive markets
foster low prices and high quality. Applying antitrust tools
wisely, however, is a tricky business, and Haas-Wilson carefully
explains how it can be done. Focusing on the economic concepts
necessary to the enforcement of the antitrust laws in health care
markets, Haas-Wilson provides a useful roadmap for guiding the
future of these markets.
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