The article sounds quite convincing at first glance. But the author seems to have forgotten an important part of the equation, competition. I’d bet that without so much Government intervention, the costs would be lower. If the healthcare providers were truly allowed to compete freely, competition would kick in to lower costs.
If two hospitals provided the same level of service, wouldn’t the hospital that charged less get more business? Furthermore, if a third hospital provided better service AND lower cost, wouldn’t it do even more business than the other two hospitals?
The author criticizes the pursuit of profits, but fails to take into account the critical factor that makes capitalism work, competition.
Held hostage by the health system – The Boston Globe.
