Hospital costs, not drug prices, are the real US healthcare scandal

By: Nisarg Patel

Hospital costs, not drug prices, are the real US healthcare scandal

Medical monopolies have allowed inflation to get out of hand, but American politicians are not paying

attention.

The parallels between banks’ skyscrapers in downtown Manhattan and today’s

hospital behemoths are striking: sparkling glass windows, vast marble lobbies and

expensively maintained greenery, with skyrocketing executive bonuses and global

brand recognition to boot. Similarly, they have both been large-scale recipients of

federal support. As hospitals struggled with Covid-19 last summer, the

country’s largest and richest health networks absorbed billions of dollars of

stimulus. The picture is reminiscent of Wall Street in 2008: much of America’s

healthcare sector has become too big to heal.

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