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The system was based until the late 1980s on a fee-for-service principle that tied doctors' incomes to the number of procedures they performed.What has changed is not the introduction of profits but the introduction of cost controls.
Resource allocation decision making in the Caribbean can be greatly enhanced by the introduction of cost per quality-adjusted life-year (QALY) analysis on the basis of local preferences.
The public inquiry has heard claims that DUP special advisers frustrated the introduction of cost controls, claims they have denied.
Later in Thursday's hearing, Mr Bell was pressed over how much he knew about delays in the introduction of cost controls in the summer 2015.
Mr Bell accepted that when he realised the significance of the delay in the introduction of cost controls, he should have asked serious questions.
The inquiry will also investigate whether DUP advisers interfered to delay the introduction of cost controls in the scheme - an allegation that they reject.
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It would aim to increase competition by ending "the gaming of rules" by brand-name drug manufacturers that stymies the introduction of cost-saving generic and biosimilar drugs.
For commercial vehicle manufacturers, the introduction of cost-competitive lightweight materials provides great potential to achieve these objectives.
The results strongly suggest that both the sector regulator EMRA and the private distribution companies ought to take into consideration the households' characteristics while designing electricity tariff following the envisaged introduction of cost-based tariff after 2015.
However, they did not support higher expenditure on the improvement of scenic beauty of roadside vegetation that calls for introduction of cost-effective methods for re-vegetation and management of roadside verges.
Another, perhaps equally revolutionary, development that is on the biomedical horizon is the introduction of cost-effective microarrays for fast, highly multiplexed screening for biomarkers on cell membranes and in a variety of analyte solutions.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com