Medicare , Medicaid etc reimburse virtually nothing to providers. What I’m charged as a private pay is beyond reasonable . It’s like you go to the store and pay .25 for bread and I’m paying $5 a loaf. It’s unfair and can’t last for long.
Medicare and Medicaid are reimbursed differently. Some practices I know don’t even submit certain bills for Medicaid. It costs more to prepare the bill than what they might get reimbursed for.
That is why the medical industry is fighting to keep prices hidden.
If I can see that a procedure at doctor’s office A is twice that of Doctor’s office B, I am going to the best value.
Simply put, it is an illegal monopoly that no one really wants to touch, since they get massive amounts of money from the monopolies.
It will lead to socialized medicine. Similar situation with college costs. When you set up a predatory system, don’t be surprised when the prey starts thinking radical thoughts.