The difference, from what I can see across the pond, is that the medical industry in the US is a government supported cartel. No one can get into the industry to create competition and existing players can do whatever they want. The US government created a lot of regulations to prevent anyone joining the industry and completely deregulated day to day operations for established players.
Do you have do any examples of these regulations that exist in the US but not in Germany or other countries with better access to healthcare?
In terms of insurance, are you saying that Germany actually has more competition in that space compared to on the US side?
Competition can help lower prices with things like collective bargaining. It’s the reason that Canada pays less for drugs, because they can negotiate prices on behalf of the whole country. However, the US has more competition and several private insurance companies, each are only able to negotiate on behalf of their relatively small groups and thus are not able to negotiate as good of prices.
Many countries outside of the US provide better access to healthcare for less and I’m not convinced it is because those systems have better competition in the ways you are suggesting, but I’d be happy to learn more.
The difference, from what I can see across the pond, is that the medical industry in the US is a government supported cartel. No one can get into the industry to create competition and existing players can do whatever they want. The US government created a lot of regulations to prevent anyone joining the industry and completely deregulated day to day operations for established players.
Do you have do any examples of these regulations that exist in the US but not in Germany or other countries with better access to healthcare?
In terms of insurance, are you saying that Germany actually has more competition in that space compared to on the US side?
Competition can help lower prices with things like collective bargaining. It’s the reason that Canada pays less for drugs, because they can negotiate prices on behalf of the whole country. However, the US has more competition and several private insurance companies, each are only able to negotiate on behalf of their relatively small groups and thus are not able to negotiate as good of prices.
Many countries outside of the US provide better access to healthcare for less and I’m not convinced it is because those systems have better competition in the ways you are suggesting, but I’d be happy to learn more.