What is the right time to regulate?

Policies, Regulations, and HIT

As emerging technologies drive new business and service models, governments must rapidly create, modify, and enforce regulations. The preeminent issue is how to protect citizens and ensure fair markets while letting innovation and businesses flourish. Sweeping technological advancements are creating a sea of change in today’s regulatory environment, posing significant challenges for regulators who strive to maintain a balance between fostering innovation, protecting consumers, and addressing the potential unintended consequences of disruption. Like any new technology, they come with many challenges. As government policymakers and regulators grapple with the regulatory challenges posed by digital technologies, four foundational questions are critical to address:

1. What is the current state of regulation in the area?
2. What is the right time to regulate?
3. What is the right approach to regulation?
4. What has changed since regulations were first enacted?

The following five principles can both help to answer the “when to regulate” and “how to regulate” questions as well as set a foundation for rethinking regulation in an era of rapid technological change.

Evaluate the impact of emerging technologies in advancing healthcare legislation, policy, and regulation.

Include the following aspects in the discussion:

• Choose one of the five principles related to regulation
• Do not choose a principle chosen by peers
• Find a reference related to your chosen “principle”
• Summarize your findings related to your principle
• Discuss how your principle can help answer the “when to regulate” and “how to regulate” questions
• Share any principles you think should be added as regulations