Ideally you have an independent regulator who makes sure there’s competition, and if the industry can’t keep up it gets cleaned up into a well regulated government entity.
Even the US has things like Medicare/Medicade. That is, government run services that are supposed to just be a service, not a profit-making activity. Funnily enough, they don’t have the same issues.
They made issues, unfortunately. Medicare Advantage (latest iteration) has private contractors handling your care which the government reimburses, and Medicaid varies from state to state, with some covering more and others far less (and some having similar arrangements with private contractors).
Where’s the disincentivization for manipulation?
Not all markets are the US.
Ideally you have an independent regulator who makes sure there’s competition, and if the industry can’t keep up it gets cleaned up into a well regulated government entity.
Even the US has things like Medicare/Medicade. That is, government run services that are supposed to just be a service, not a profit-making activity. Funnily enough, they don’t have the same issues.
They made issues, unfortunately. Medicare Advantage (latest iteration) has private contractors handling your care which the government reimburses, and Medicaid varies from state to state, with some covering more and others far less (and some having similar arrangements with private contractors).
In theory: Public backlash leading to competition taking market share, and regulatory penalties.