Re: European-style health system
"... which would invite other entrants to the market as overcharging leaves a margin for undercutting. BUPA wouldn't be alone for long."
Once you have a dominant market player and smaller competition comes along with lower prices all they need to do is lower costs and wait for the smaller outfit to go bankrupt, then buy them up.
Examples:
How AT&T took over the USA telephone market in the 1930s
How BT keeps wireless broadband providers out of business in rural areas. (As soon as any area gets wireless BB announced, BT immediately pulls all stops to get DSL into the area to head them off at the pass)
Biting the hand that feeds IT
