In past years hospitals primarily were non profit, sponsored primarily by charitable and religious institutions. The big push to corporatize medicine into for profit institutions came with the promise of big dividends to the public in lowered medical costs. In those days hospitals and medical care was rated at around 3% of national GDP. Most recent estimates put it in the over 20% range of GDP
You are correct that if it were forced to respond to market forces, Costs would have actually dropped. But instead, it became the playground of pay offs and kick backs and and a bonanza of bribes to politicians.
Needless death and robbing the poor always find a way lining the pockets of the rich and powerful at the cost of everyone else.
In past years hospitals primarily were non profit, sponsored primarily by charitable and religious institutions. The big push to corporatize medicine into for profit institutions came with the promise of big dividends to the public in lowered medical costs. In those days hospitals and medical care was rated at around 3% of national GDP. Most recent estimates put it in the over 20% range of GDP
You are correct that if it were forced to respond to market forces, Costs would have actually dropped. But instead, it became the playground of pay offs and kick backs and and a bonanza of bribes to politicians.
Needless death and robbing the poor always find a way lining the pockets of the rich and powerful at the cost of everyone else.