The prices of healthcare products and services are artificially inflated in the USA, where they are much more expensive than in other countries. Excessive prices mean poorer access to care.
and outrageous bills
Healthcare providers get away with charging well over the true cost of care, knowing that insurance companies have to pay up. People with insurance are unconcerned about the price of care because they’re not paying directly for it. People with employee benefits are unconcerned about the price of insurance because they’re not paying directly for that either. As a result, so many others can’t afford the care they need.
Caps on the number
The regulatory cap on medical residencies eliminates training opportunities for medical graduates. Many qualified and experienced foreign doctors are prevented from practicing here. The lucky few who jump through the administrative hoops can charge inflated prices because patients have nowhere else to go. Consequently, patients face longer wait-times and have fewer specialists to choose from.
Large pharmaceutical companies write regulations that protect their profits and are passed by politicians they financially support. These regulations criminalize the importation of cheaper, and sometimes identical, FDA-approved medicines.
Government decisions about
the care you’re allowed
Lifelong treatments are more profitable than cures. However, the massive cost of FDA approval prevents drug makers from developing cures with low returns, forcing them to produce long-term treatments with higher profit margins instead. Meanwhile, the FDA prohibits the use of likely-effective treatments even to dying patients.
Corporate decisions about
the care you need
Insurance companies not only have to pay out for these price-inflated healthcare services and drugs: they also have to cover huge compliance costs. As a result, patients often pay deductibles that exceed the out-of-pocket cost of the same care. Patients must accept the treatments allowed by the insurance companies, whose decisions are motivated by profit. Insurance exists to protect against catastrophic circumstances that would be too costly to deal with otherwise – like one’s house burning down or getting cancer. When it comes to everyday, low-cost care, insurance companies add an unnecessary layer of control, cost and profit margin.