Extremely informative article from FEE: The Medical Cartel is Keeping Health Care Costs High:
“Though few Americans realize it, health care is a monopoly. In the early 20th century, the American Medical Association (AMA) lobbied the Federal government to close all schools not approved by its own Council on Medical Education. They unfortunately succeeded and 30 percent of medical schools were closed within 30 years. The number of doctors has been artificially capped ever since.
The AMA also controls state boards of licensing, limiting the number of physicians in each state and preventing competitors from treating patients. The United States has 50 percent fewer practicing physicians per capita than Sweden or Germany. Unsurprisingly, US doctors also work fewer hours while earning much higher salaries…
…Similar federal regulatory monopolies prevent generic drugs from competing with big brands, block the building of new health care facilities, and limit health insurers to two or three per state. Our health care options shrink as special interests’ regulatory control grows resulting in fewer drugs, fewer doctors, fewer plans, and fewer choices.”
Read the entire piece.
