We have, to some degree, put the insurance companies in charge of medicine.
Some people have insurance, and some do not. The haves and have nots come into stark contrast when it comes to medical pricing. Insurance companies disallow charges dramatically. Then they pay part of the remaining charge. Those without insurance pay much more. The term “cost shifting” comes to mind.
What would life be like without government involvement in medicine? In general, I think it would be better, but I can’t give specifics. I suspect the insurance companies would have less clout and there would be less cost shifting to the uninsured.
Recently, there is an explosion of TV ads for all sorts of products delivered in self injectable devices. There is a weight loss self injectable being offered for first time buyers at $100 off.
Apparently government allowed the self injectable products to come to market. We will now see a flood of stuff being marketed that will ba a panacea for every known ailment. It will be self injectable and terribly expensive but it will be legal and available.
Government will have to step in eventually to regulate the flood.