Question

Are health care facilities in USA natural monopolies a) never, b) sometimes, c) always? If a), should “duplication of services” be illegal? If b), give one example of each case. If c), should the price of healthcare be regulated, like the price of retail electricity?

Answer 1

Health care facilities in the USA have always experienced the administrative power of monopolies.

Explanation:- (c)- The insurance premium price for all US citizens rose to a considerable level because of the growing demand for medical needs and the high concentration of medical spending by the Federal Government. The cost of procuring medical equipment and services has been rising gradually, and it leads to paying for nearly $2000 as average pay per day as a hospital bill. The overhead cost of hospital charges like Doctors' fees, medicines, treatment scheme charges and other miscellaneous charges crosses the stage of the inflating prices in such a way that, Some Specialist Hospitals have their own superior treatment of specific diagnosis leading to be a monopoly power. The insurers' wages do not equally increase with the hospital bill payment through their health insurance scheme. The above facts prove that all the health-related medical prices need to stabilize, and henceforth the price of healthcare should regulate like the price of retail electricity. If it creates the more the subsidized medical bill, the more nominal hospital fee is charged accordingly.