This is my third post now that mentions Obama and the healthcare IT stimulus. I just cant stop thinking about the macroeconomic impact this will have and a potential of a contagion that will spread outside of United States. At this moment, my only justification of continuous coverage of this topic on a healthcare blog is the fact that this $50B will be spent on HIT.

I recently picked up "The Wealth of Nations" by none other than Adam Smith. He states:

"Every individual necessarily labors to render the annual revenue of the society as great as he can. He generally indeed neither intends to promote the public interest, not knows how much he is promoting it. He intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good. It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interests."

Now I will explain how this paragrpah actually struck me. Basically, each physician's office is only concerned with their own efficiencies and obviously the bottom line (ofcourse, dont forget about the well being of the patient). He or she now converted their office to an EMR system or at least a stand alone e-prescribing system. These forward thinking doctors, may or may not have realized that they are actually promoting the "public interest". Now this is were the views of a free-market economist will difffer from what Obama's administration is suggesting. So is our healthcare system better served by doctor offices acting in their own selfish best interest and hence contributing to the overall good of the society, or is it our government that is the  "invisible hand" (very visible actually) that is leading these individuals to "an end whcih was no part of his intention" - i.e $77B in savings!!!