27 July 2021 - 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 health care sector has become too big to heal.