Too much government focus on the affordability and demand/user side of medical care and too little focus on the cost and supply/medical providers side of medical care. Medical care is non-competitive, has below US average, productivity growth and limited entry of new medical providers, which has led to higher medical price increases than wage growth and inflation since before WWII. The Association of American Medical Colleges and the American Medical Association limit the number of US medical training facilities, medical schools and hospital residency slots. Current medical licensing requirement of 4 years of college, 4 years of medical school, and several years of hospital residency could be reduced, but prior approval is needed. Numerous states limited the opening of new hospitals unless the new entrant can show an unmet need, which does not include consideration of competitive/lower pricing. A greater supply of medical providers in a competitive environment would lower prices and improve quality better and faster than any government program.
Correcting misconceptions about markets, economics, asset prices, derivatives, equities, debt and finance
Monday, March 28, 2022
My Comment To WSJ Opinion, "Prepare Now to Repeal ObamaCare Later"
Posted By Milton Recht
My published comment to The Wall Street Journal, Opinion, "Prepare Now to Repeal ObamaCare Later: Republicans need to show voters they have a viable alternative" by Bobby Jindal, March 27, 2022:
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