Healthcare crisis, rising costs and gross malfeasance are the result of demand outstripping supply while regulations distorted free market forces. Adverse selection bias created by Obama’s subsidies and exchanges allow the 20 million uninsured ‘free healthcare’ where increased demand caused premiums to soar.
Technological innovation increased disease activity drove costs further.
Money-flows involving insurance companies, Big Pharma, corporatized doctors’ practices, hospital monopolies, and, of course, politicians divided amongst each other a colossal pool of grift exists mainly for one simple reason: keeping costs hidden from public view. Even the Republicans prevented bulk purchasing power of drugs for Medicare/Medicaid.
Medicare and Medicaid were created in 1965. In 1973, Nixon signed into law, the Health Maintenance Organization Act, in which medical insurance agencies, hospitals, clinics and even doctors, could begin functioning as for-profit business entities instead of the service organizations they were intended to be.
Healthcare: wrapped in diplomas, dollars and cant.