A team of Internet entrepreneurs in downtown Manhattan wants to revolutionize how Americans get prescription drugs. Their company, Blink Health, has a crazy idea: let customers shop for the best deal.
In any other industry, of course, this would not be revolutionary, but it's a foreign concept at the pharmacy counter and a distasteful prospect to the businesses now shielded from marketplace competition. Politicians and activists routinely decry the resulting high prices, but their preferred solution is to impose price controls that would stifle the development of new drugs. Democrats—joined, at times, by President Trump—argue that government control is necessary because the free-market system has failed patients. But the real problem with prescription drugs, as with the rest of the health-care system, is that the free market hasn't been tried.
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