Throughout the long debate on health reform, policymakers have overlooked one simple fact: giving everyone health insurance will greatly increase the demand for health services. Without expanding the supply of doctors and the capacity of the health system, health reform means skyrocketing costs and long waits for care. Proposals to limit those costs by imposing price controls will have the perverse effect of making medical practice less attractive, widening the gulf between patient demand and the system's ability to supply services. Dropping the barriers to international trade in medical services could help the U.S. health system cope with the new demands created by health reform. Some 750,000 Americans went abroad for health care in 2007, taking advantage of services that can be 10 percent of the cost of equivalent care in the United States. One study estimates that at least $1 billion could be saved every year if more Americans took advantage of less expensive offshore care.

A distinguished panel of experts will discuss the prospects and barriers to expanding international trade in medical services. Panelists include Jagdish Bhagwati, professor at Columbia University and senior fellow at the Council on Foreign Relations; Aaditya Mattoo, lead economist of the Development Research Group at the World Bank; and Dean Baker, codirector of the Center for Economic and Policy Research. AEI's Joseph Antos will moderate and participate in the discussion.