THE JEVONS PARADOX IN MEDICINE
Babies got cheaper this month. Twice.
First, Belgian scientists announced that their new method has the potential to cut the costs of some in-vitro fertilization treatments from $7,500 to below $300. Their cut-price recipe requires little more than baking soda and lemon juice in place of purified carbon dioxide gas to maintain acidity when growing an embryo in a lab before implanting it.
Second, a baby called Connor was born after 13 of his parents' embryos had their genomes analyzed using next-generation DNA-sequencing techniques in an Oxford laboratory.
Only three of the embryos were found to have the right chromosome number, and one of these "normal" embryos was then implanted in his mother. This new approach, made possible by the rapidly falling cost of DNA sequencing, promises to cut the number of failures during IVF, reducing both cost and heartache.
The two announcements are a reminder that cost reduction and productivity boosts are the purpose of most innovation. Medicine is no exception. Innovation is driving down the costs of medical interventions all the time, and the falls may be about to accelerate, thanks to biotechnology and information technology.
Whence, then, the relentless rise in the costs of healthcare? Part of the answer is known as the Jevons paradox after the Victorian economist Stanley Jevons.