Price Inelasticity + Supplier-induced Demand = The current healthcare economics in the US Price Inelasticity = "Man, I hope this rebar sticking out of my chest

Price Inelasticity + Supplier-induced Demand = The current healthcare economics in the US Price Inelasticity = "Man, I hope this rebar sticking out of my chest doesn't kill me. What is this ambulance doing to me? Hope it's not too expensive. Now what's going on? What is this tube sticking out of me? And, what's the nurse sticking into it with that needle? Whoa, there are two doctors? Why? Who authorized this? Whatever, my eyes are heavy. I'll figure this all out after some rest." Supplier-induced Demand = "Look, Patient X, you're going to need Foo, Bar, and Baz done. I'm doing it not because you need it (because I think you're fine), but because there is a 1000000:1 chance you might need it, and if you did, and I didn't do it, you'd sue me out of my profession. But don't worry, you're covered, right?" (He'll also make more money, too). Bi-partisan solution? Cap malpractice awards (screw the patient) and institute price controls like Singapore, Switzerland, and Japan (screw the healthcare provider). Share the pain. It's the American way.