Monitoring Medical Technology: Shall Technology be Regulated? How and by Whom?

Abstract

Although my topic for discussion is regulation of technology, my own position falls between a laissez faire approach to technology and a direct regulatory approach. I do not believe that market forces and competition alone, without a systematic mechanism for assessing technology and disseminating the findings, will resolve problems of use, distribution and cost inflation. I also do not believe that regulatory approaches such as certificate of need or rate regulation can be rational and effective without such assessments. An organized monitoring and assessment process is necessary.