Free-market healthcare
In a system of free-market healthcare, prices for healthcare goods and services are set freely by agreement between patients and health care providers, and the laws and forces of supply and demand are free from any intervention by a government, price-setting monopoly, or other authority. A free market contrasts with a controlled market, in which government intervenes in supply and demand through non-market methods such as laws creating barriers to market entry or directly setting prices.
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Advocates of free-market healthcare contend that systems like single-payer healthcare and publicly funded healthcare result in higher costs, inefficiency, longer waiting times for care, denial of care to some, and overall mismanagement.[1]
Skeptics argue that health care as an unregulated commodity invokes market failures not present with government regulation and that selling health care as a commodity leads to both unfair and inefficient systems with poorer individuals being unable to afford preventive care.[1]
See also
- Economic Calculation Problem
References
- John Stossel (October 16, 2006). "Health Insurance Isn't All It's Cracked Up to Be". ABC News. Retrieved September 27, 2009.