Calling the current US system "private healthcare" without thinking of the idealized private healthcare is a fallacy. Let's suppose drugs and medical procedure

Calling the current US system "private healthcare" without thinking of the idealized private healthcare is a fallacy. Let's suppose drugs and medical procedures were not subsidized by any body. (Completely impractical (not a recommendation) but useful for this thought experiment.) What do you think would happen to the price of these drugs and medical procedures. People would pay for them if they valued them at their price. In having people pool together money in an insurance body (of which there are currently many) you allow shared responsibility so that a disaster (theoretically) does not financially destroy someone. So now drug companies et al are indeed negotiating with insurance companies. Insurance companies have huge margins (nature of the business) and end up paying prices based on the value after margin. Because of this padding, prices go up. Now imagine instead of a bunch of insurance companies you have one. This is public healthcare. Prices will be very high, but it won't look like that to the consumer because it is a public cost. Furthermore the "ask Canada" argument from the privatize-it side points out the reduced wait-times and increased specialized innovation that occurs in America. No one's arguing that the way it is now is perfect, but a public system in America is a scary thought.