Because depending on the funding system, for-profit hospitals will increase bed capacity to increase revenue. It creates perverse incentives (also because of supplier-induced demand).
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Meaning you think hospitals will deliberately try to make people sick so they’ll have more “customers”?
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Because someone is paid to enforce that cap, and someone is paid for coming up with the idea of that cap, and someone is paid for raising moral outrage over those who would propose not paying people to do this.
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We literally blame my grandfather
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It's a component of oligopolistic competition I think.
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(I meant rhetorically; why would someone optimizing *for the public good* do this? it doesn't seem to be a good idea.)
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I'll be interested to see whether a pandemic is enough to break the regulatory capture cartel that prevents competition between hospitals by making sure there is no excess capacity so that every hospital must be fully utilized by someone.
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There was a period where it was fashionable to try to prevent business competition and this was part of that.
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The education and healthcare industries are far too important not to privatize and open up to unfettered capital market investment. The modernization alone would be thorough and breathtaking. It is something that can be achieved. Healthcare would come down in price as well.
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A private (all private) system would be overwhelmingly forward looking and unregulated. Not likely overnight but a direction to move the industry. Many of mankind's shortcomings are assumptions tied up in weak but habitual arguments not tested and tried by simple economic logic.
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