Classic example of healthcare market failure - PSA

The PSA test for prostate cancer is a health care 'disaster' says its inventor. Over $3 Billion is spent on testing and treatment each year with dubious health benefits. It goes without saying that PSA testing and Prostate treatment are paid for using 'other people's money', therefore lots of men sign up for the test, I mean, why not? Don't cost nuthin'.

The inventor has the quaint (and fascist) notion that simply by telling health care providers not to use the test he can eliminate this bad choice. Unfortunately it's more complex than that: the huge PSA waste is part and parcel of a flawed system. You can't just shout at the providers, you need to put consumers back in charge of both their health care choices and the associated costs. They'll make far better decisions about the utility of the test relative to its cost than anyone else.

It's time we stopped trusting the government and started trusting the people to make good choices.