Most developed nations have highly regulated healthcare systems, and part of the government involvement is in setting prices. The U.S., through everything from

Most developed nations have highly regulated healthcare systems, and part of the government involvement is in setting prices. The U.S., through everything from safety regulations to IP laws to insurance regulation has destroyed competition, but outside of medicare isn't involved in determining prices. The result is predictable. Markets work great when the incentives are right. It's hard to get incentives right in healthcare and most nations want medicine to be part of a government safety net, so they go the direction of socializing healthcare. Almost anything would be better than the system the U.S. has now.