In January 2021 President Biden issued the Executive Order (EO), Modernizing Regulatory Review, that emphasized the importance of swift and effective Federal action to review regulations that will improve the lives of the American people. In July he issued the Executive Order on Promoting Competition in the American Economy, that singles-out anti-trust regulatory failure as key to the excessive concentration of industry to help the American people. We believe that the EOs, the former reviewing the broad regulatory environment and the later focusing on anti-trust, together, will reshape and drive innovation in the increasingly consolidated health sector.
Recommended is “concurrent review” or “ongoing review,” to the implementation of the EO. Rapid evaluations would deflect the harmful consequences of regulatory failure and facilitate managing the gaps in advancing the US economy, so well exposed by the Biden Executive Order on Promoting Competition. An example of rigidity of regulations was the Trump Administration’s Regulatory Flexibility Act, which requires a ten-year review of regulations and does not serve the goal to promote both innovation and investment.
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