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Banking and Finance Law

Market failure

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Quality Of Care And Market Failure Defenses In Antitrust Health Care Litigation, Thomas L. Greaney Jan 1989

Quality Of Care And Market Failure Defenses In Antitrust Health Care Litigation, Thomas L. Greaney

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This article considers quality-based justifications for antitrust challenges to collaboration among health care professionals. It first examines doctrinal developments resisting such justifications and, with a skeptical eye, analyzes attempts to interject quality of care and worthy motive defenses into antitrust appraisals of horizontal restraints of trade. Next the article assesses the economic basis and the risks and benefits of a market failure defense that would allow some quality-enhancing restraints of trade to escape antitrust challenge. Its principle recommendation is that courts recognize a narrow, market failure defense subject to several limiting principles to cabin its reach. The article concludes by …


Competitive Reform In Health Care: The Vulnerable Revolution, Thomas L. Greaney Jan 1987

Competitive Reform In Health Care: The Vulnerable Revolution, Thomas L. Greaney

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This article, written at the dawn of the era of "competitive reform" in health care examines the case and prospects for the introduction of competition in health care delivery and financing. It observes the failures of the ancienne regime of fee for service payment and professional sovereignty and discusses the benefits of market-oriented policy. Its contribution, still salient today, is the lesson that competition cannot succeed without regulation. It identifies legislative, professional, and cultural hurdles to effective implementation of competitive norms and policies that have impeded the success of competition policy in health care.