I explained it to someone recently as this: "This biggest problem with the healthcare industry is that incentives are terribly misaligned and patchwork. Because

I explained it to someone recently as this: "This biggest problem with the healthcare industry is that incentives are terribly misaligned and patchwork. Because most of the market is formed by accreted law rather than naturally, even incentives for a given participant (e.g. an insurance company) are usually different than what you'd expect."