Prices in medical care like anything else is a function of the maximum amount of money that can be extracted. With the socialized Medicare/Medicaid already in

Prices in medical care like anything else is a function of the maximum amount of money that can be extracted. With the socialized Medicare/Medicaid already in place, hospitals charge as much as they can knowing the government has deep pockets, will pay, and will give minimal resistance. Those high prices are then charged to insurance companies as well through closed door, complex negotiations on a case by case basis - super inefficient and expensive. Also without consumers in the loop even caring what their insurance company is paying, and no price transparency in general, there is no pressure to decrease prices, improve quality or compete in general which are the cornerstones of free market economics. Luckily price transparency laws were passed last year and are still working their way through the system so hopefully people will start to get a taste of what’s possible soon and decide to take those laws even further.