Is there a solution? Yes, I believe there is. It’s radical. It will destroy many institutions that won’t be able to adapt. It’s something we haven’t seen in health care for decades — it’s called price. If we had to pay the price of our care, we might negotiate it. We might not buy it. We would consider alternative treatments. If possible, we’d shop the cost. Do that, and the price of care would, however imperfectly, decline until it met what we are able to pay.
This isn’t a crazy idea from a deranged newspaper columnist. You can read how and why restoring price to health care will work by reading John C. Goodman’s Priceless: Curing the Healthcare Crisis (The Independent Institute). (More)