price, quality, convenience, and superior products or services); however, competition can also be based on new technologies and innovation. A key role of competition in healthcare is to provide a mechanism to reduce healthcare costs. Competition generally eliminates inefficiencies that would otherwise result in high production costs, which are ultimately passed on to patients through high healthcare and delivery costs” (http://www.ncbi.nlm.nih.gov). “Competition in healthcare markets benefits consumers because it helps contain costs, improve quality, and encourage innovation” (https://www.ftc.gov). Competition forces companies to provide increasing value to customers. The fundamental driver of this continuous quality improvement and cost reduction is innovation. Without incentives to support innovation in health care, short-term cost savings will soon be overwhelmed by the desire to expand access, the growing health needs of an aging population, and Americans' reluctance to settle for anything less of the best treatments available. The United States can achieve universal access and reduce costs without sacrificing quality, but only by allowing competition to function at all levels of the healthcare system. Prices remain high even in the event of excess capacity. Technologies remain expensive even when they are widely used. Hospitals and doctors stay in business even when they charge