Healthcare is an important topic for the American people, and as shown by the debate that has raged over the Affordable Care Act for the last four years, it is something with a wide range of potential solutions. While some have argued for more government involvement in healthcare – and even a single-payer healthcare system – the proper approach to healthcare is privatization. Healthcare being handled by the private market makes sense because it puts to work the power of the free market to help reduce premiums and provide individuals with the best possible medical options.
When healthcare is privatized, more insurance companies and medical professionals are able to get involved in providing care. The laws of supply and demand dictate that when more competition is present, prices will be depressed. Given the rising costs of healthcare for all Americans, it is important that this sort of competition is embraced rather than stifled. Perhaps more important, though, is the fact that the private market will help to provide people with the best potential options when they need to visit a doctor.
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While some argue the merits of government-run healthcare, those systems have consistently shown longer waiting times to see quality doctors (Basu). Likewise, those systems tend to depress doctor compensation, removing some of the incentive for new doctors to enter the industry. When that incentive is removed, many doctors that might have otherwise been quite skilled will choose to enter another profession, rather than incurring the high expense of a medical education and the long, lengthy, med school process (Barros). If healthcare is privatized, then doctors can earn whatever they are worth. Those doctors who have shown themselves to be quite skilled can command a high price, and if people are willing to pay that price, then all parties walk away winners from the situation. It is important to encourage more skilled professionals to enter the industry, and keeping the government out of healthcare would ensure that result when all is said and done.
Some wonder what happens to those people who cannot afford healthcare under a privatized system. All societies must provide some considerations for these individuals. Under a privatized system, the very poor are still able to get healthcare through Medicaid. People who suffer from extreme poverty or disability are covered under this program, and the very old are covered under Medicare. Likewise, emergency rooms are still required to treat those people who enter their doors with major medical problems (Jabnoun). This is a solution for people who find themselves suffering from a major medical emergency. They can then set up a payment plan with a hospital, or in some cases, they can take advantage of hospital charity programs if they are not in a financial position to pay their bills.
Ultimately healthcare is a massive issue where no one solution will be perfect. The privatized system provides better results, however, by allowing the free market to take its course. Shorter waiting times and higher quality medical care follow when people are allowed to choose their own doctors without the unnecessary entanglement from the federal government.
- Barros, Pedro Pita, Sara Ribeirinho Machado, and Jde A. Simões. “Portugal. Health system review.” Health systems in transition 13.4 (2011): 1.
- Basu, Sanjay, et al. “Comparative performance of private and public healthcare systems in low-and middle-income countries: a systematic review.” PLoS medicine 9.6 (2012): e1001244.
- Jabnoun, Naceur, and Mohammed Chaker. “Comparing the quality of private and public hospitals.” Managing Service Quality 13.4 (2003): 290-299.
