The problem is that hospitals operate with a de facto monopoly in 35 states. In order to get permission to build a new hospital, you need to apply for a "Certificate of Need," certifying that there is a need for a new hospital in the community.
With rules like this, it's no wonder that American healthcare is so expensive. The free market is simply not allowed to operate in healthcare.
The problem is that hospitals operate with a de facto monopoly in 35 states. In order to get permission to build a new hospital, you need to apply for a "Certificate of Need," certifying that there is a need for a new hospital in the community.
With rules like this, it's no wonder that American healthcare is so expensive. The free market is simply not allowed to operate in healthcare.