Since capitolism is based on the concept that competition mixed with supply and demand will motivate compainies to maximize their efficiency and innovation, would it not seem that health insurance, whereby the person receiving the service is not actually required to pay the bill, would prevent hospitals from caring about havign a reasonable price fortheir service, or for operating efficiently? (sorry for the long sentence) Since hospitals are plentiful, would not simple free market economy work with with medicine in the US, and force prices to drop the a reasonable amount that people can actually afford, as it does with food, shelter, and all the other necesities that benefit from the superior free market economy? Could solving the problems of health care in the US be as simple as eliminating all health insurance companies?
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This is not pure free market. It will be pure free market when: 1) Companies compensate employees for not taking medical insurance. If A and B works the same job in a company and A takes the company paid medical insurance he in theory makes 20% more than B for the same job. 2) I can buy drugs from whereever and when ever I want. I take the risk. Most procedures done in US can be done in India for 10% of the cost. But the risk is mine. 3) FDA remains just an advisory board. They advise and I decide to accept it or not. I think this is the root cause of all the evil. 4) No restriction to opening up a medical school. When the tech boom started there were a million new engineering and quasi engineering schools opened. Where are all the medical schools opening?
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