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The WSJ Health Blog notes that Wal-Mart has saved its customers more than $1 billion with its $4 generics program:
Wal-Mart’s doing a bit of chest thumping this morning, claiming that its $4 generics program has saved consumers $1 billion — $1,032,573,012.61 as of March 10, to be precise.
These savings were brought about not by government cost controls but by that bête noire of faux-progressives everywhere—free market competition. And it is probable that actual consumer savings far exceed the Wal-Mart numbers:
The ripple effects of the program may have driven additional consumer savings, the company pointed out. Competitors including Kroger and Target followed Wal-Mart with their own $4 generics programs.
The market works, folks. Wal-Mart wants customers in its stores rather than those of its competitors, so it provides cheap genereic drugs to draw them in. If the government would get the hell out of the way, similar things would happen throughout health care.
March 16th, 2008 at 12:34 am
Similar things in healthcare David? That would great. I am sure doctors will be clamoring to charge $4/surgery just to be competitive in an open market.
March 18th, 2008 at 10:48 am
Let me know when the “market driven system” furnishes healthcare to 100% of the people. And, for less than the 17% (2.2 Trillion) of GDP it now uses. “Socialist” healthcare, as used in most countries around the world, do just that you know. They use about 11% of their GDP, cover everyone, even include medicine! When your “market system” passes that, maybe I’ll cheer. Until then, I’m certainly not going to cheer. I forgot one other detail, those “Socialist” healthcare systems? No one goes bankrupt from healthcare bills either. Half of all bankruptcies in the U. S. “market system” are caused by healthcare bills! One every 30 seconds as a matter of fact.