Unlike any other industry in the United States, the health care system is destroying our economy due to lack of competition.
Despite all the arguments from health care experts, the “industry,” a confluence of insurance companies, providers, pharmaceutical manufacturers, medical technology companies and lobbyists, is responsible for high health care costs. Breaking up the health care monopoly is a necessary step to halt price increases.
Health insurance conglomerates, by far, are the biggest culprits. They control the premiums charged to businesses and their employees (the majority of the insured). They decide how physicians, hospitals and other providers are reimbursed. Most important, their relationship with drug manufacturers, who produce brand or generic medicines, is the single most important contributor to health care price escalation.
The largest five pharmaceutical manufacturers gobble up 80% or more of drug dollars, spend millions on lobbying and attempt to drive smaller, generic drug companies out of business through years of litigation.
Can you imagine another industry in our “free economy” that operates this way? Would the Department of Justice and FTC allow computer manufacturers, large retail chains, oil companies or any other industry in the United States to set prices by controlling the distribution chain? Clearly, no.
Current proposed legislation in Congress, stymied by opposition to a “national health plan,”will not by itself reduce what the average American pays for health care. We’ll only resolve our health care cost dilemma by breaking up health care conglomerates that control health care delivery and fostering competition in the market.