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> More regulation will make the system more fucked. Less regulation will make the system more fucked. That’s pretty ridiculous given that it essentially conclu
by bart_spoon 7y ago
> More regulation will make the system more fucked. Less regulation will make the system more fucked.
That’s pretty ridiculous given that it essentially concludes there is no way to create a viable healthcare system, when most other first world countries are not having these problems.
The issue is that the US system insists on clinging to the idea of a “free market solution”, without any of the crucial ingredients for making a free market solution work. The information regarding who pays what for what services is as opaque as any industry out there. People receiving the health care are different from the people paying for the healthcare, and the how the costs trickle between parties is unapparent until after services are rendered, and even then it’s fairly inscrutable. How is a free market supposed to work when people can’t actually shop around and compare prices? On the other hand, you have massive consolidation and monopoly creation occurring in both the hospital administration field, as well as for insurers and PBMs. Barrier of entry is also sky high, so in reality there is little to no competition going on, which is crucial for any free market solution.
The reality is that people need to accept that the functional “free market solutions” simply don’t exist for certain industries, chief among them healthcare.