<That’s only because doctors collude to limit the number of available residency places.>
Available residency slots are dictated by the funding made available through the Medicare program and ultimately Congress.
Available residency slots are dictated by the funding made available through the Medicare program and ultimately Congress.
Who is successfully lobbied by organizations of doctors
Congress doesn't make decisions in a vacuum
Broadly, it’s the same issue that all jobs have: it’s cheaper to hire pre-trained professionals than to hire and train.
Hospitals are really quasi-government entities. Their pricing structures have price controls based on Medicare reimbursements. A third of hospital revenue is Medicare and Medicaid.
Both programs have been slowing rate growth, which in turn impacts private insurance as well. The institutions haven’t been successful in reducing cost growth. ACA built out regional cartels^H provider networks, essentially eliminating competition.