The invisible hand struggles to help the health care market
By
In a recent debate with other candidates for
Dr.
The invisible hand doesn't work so well when you've got to go to the hospital every few days for chemotherapy. You're not reading Yelp reviews or clipping coupons. You're trying to save the life of your child. And you're especially not pouring over reviews when you have to rush to the emergency room. In such circumstances, an hour or two of research could mean death.
In short, the health care market is not a normal market. It's not like buying a book, renovating a kitchen, bathroom or repairing a car, where you can know the exact cost before you commit and can even find ways to wait months before you commit. In a matter of life and death, competition doesn't work.
Sure, the free market can handle procedures that are both inexpensive and elective, as
I've seen firsthand what people actually are worried about.
We see the pregnant mom who had complications and needed an emergency C-Section, later getting a bill for over
We see the young child with a rare illness who required several surgeries totaling more than
We see a young college student at BYU who lost a protracted battle with cancer and left a young wife with hundreds of thousands in medical bills.
These experiences illustrate that the free market simply doesn't work for lifesaving medical procedures.
It doesn't matter what your political leanings are. Any of us could get hit with a debilitating medical bill. Sadly, I've seen it happen all the time to young people who think they have no need for health insurance.
We've seen a sharp rise of GoFundMe accounts asking people to cover their medical bills. Sometimes the news even covers such stories as evidence about how good people are.
But what about all the times the GoFundMe account doesn't fill up? We have to realize that in such cases, people go bankrupt. So not only do these people lose their loved ones, they also find themselves in crippling debt.
Any citizen of
If our health care cannot cover the least fortunate among us and people die as a result or are slammed with insurmountable health care bills, we've failed our society. We must realize that each of us is one unexpected doctor's call away from finding ourselves in those same desperate circumstances.
Credit: By Darlene McDonald For the


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