Reply to post: Re: Sorta

Which country has 2nd largest social welfare system in the world?

Fazal Majid

Re: Sorta

The primary factor is the American Medical Association's cartel deliberately restricting supply to keep prices high. The second is Big Pharma leveraging the corruption of Congress, e.g. Medicare is forbidden by law to negotiate volume discounts on pharmaceuticals. The third factor is a very high level of administrative expenses (which includes marketing costs), primarily driven by the arms race between insurance companies who systematically deny claims or "misplace" them, to the point medical practices need to hire full-time staff to deal with insurance companies. The cost of hospital procedures is incredibly variable. Another cause is gross corruption of some doctors who over prescribe tests in exchange for kickbacks.

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