The evidence we have, of medical fields where market forces are more dominant, compared to medical fields where market forces are less prominent, suggests market forces reduce prices in medicine.
In the US, the increase in healthcare costs is directly the inverse of the percentage of the population covered by insurance. Insurance removes the market force of consumer price consciousness and bargain-hunting. Government regulations encourage the provision of healthcare through insurance. The increase in insurance coverage is an artificial outcome of government intervention.
>>Many countries make regulated healthcare markets work. Many countries make non-market healthcare work
No, they don't. The healthcare systems of all developed countries I've seen have severe problems. Case in point, Canada:
The problems with the US healthcare system originate in regulations. There was a 3,200 percent increase in the number of healthcare administrators between 1975 and 2010, compared to a 150 percent increase in physicians, due to an increasing number of regulations:
In the US, the increase in healthcare costs is directly the inverse of the percentage of the population covered by insurance. Insurance removes the market force of consumer price consciousness and bargain-hunting. Government regulations encourage the provision of healthcare through insurance. The increase in insurance coverage is an artificial outcome of government intervention.
>>Many countries make regulated healthcare markets work. Many countries make non-market healthcare work
No, they don't. The healthcare systems of all developed countries I've seen have severe problems. Case in point, Canada:
https://www.cbc.ca/news/health/doctor-shortage-cancer-video-...
The problems with the US healthcare system originate in regulations. There was a 3,200 percent increase in the number of healthcare administrators between 1975 and 2010, compared to a 150 percent increase in physicians, due to an increasing number of regulations:
https://www.athenahealth.com/insight/expert-forum-rise-and-r...