Submitted by John House, Mar 11, 2008 10:02

As Dr. Fougner points out, there is a mechanism to aggregate buyer influence.

However, this is a problem where sound principle can point out the malpractice (sorry Doctor) of the many parties to the problem. We know by principle and experience in other industries that a free market will over time improve efficiency and lower costs. Why has this not happened in health care?

Because there is no free market in health care. The number of medical students entering practice is artificially constrained. Prices for procedures can be more than six times higher for the individual than an insurance company, even when the individual pays immediately by cash in full.

Until we have the courage to ask these questions and the determination to get answers, health care will not be as much a benefit as it can be. However, as Dr. Fougner explains, having a monoply and a monopsony control the market will create a system with less transparency and less flexibility.

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