One of the biggest artificial constraints on the supply in the medical market is the AMA—a doctors guild. They restrict the number of medical students and new doctors. Now I don’t want the C and D students in medical school, but that’s not a worry. There are probably well-qualified applicants for medical school numbering at least 2-3 times the number of incoming new medical students each year. In other words, we could have 2-3 times the number of new doctors each year without sacrificing quality. Same for new RNs.Chop, if we had a truly free market medical industry the supply of care would expand to meet demand. The system we have is already restricted in supply due to government control and regulation.
Not only would the supply grow for the current treatments we have, if the medical industry was left alone, they would innovate and gain efficiency much more rapidly bringing costs down for everyone.
Government control gives you death panels regardless of what they are called or who makes the decision. The market provides care. For a price sure. But for an ever lowering price and increasing quality.