Originally Posted by pricejj
No it's not. Get your facts straight.
"The government regularly adjusts policies to actively regulate "the supply and prices of healthcare services in the country" in an attempt to keep costs in check. However, for the most part the government does not directly regulate the costs of private medical care. These costs are largely subject to market forces, and vary enormously within the private sector, depending on the medical specialty and service provided."
Oh, so now Wiki is a good source.
I'll go with factual business news from the region. Here is a piece on Private Hospital investment in Singapore.
News Analysis: Singapore private hospital runners face uncertain outlook despite medical tourism boom
Credit Suisse Research said while stable revenue growth of the private hospital operators is probably a given, there are also some underlying risks that may arise from inherently volatile margins and high capital expenditure.
For instance, IHH Healthcare, which operates private hospitals in Singapore, Malaysia and Turkey, expects margins to remain volatile in the near term as new hospitals are starting up.
Hospital groups with an expanding hospital network often face margin pressure because of losses and competition from new hospitals. They require huge fixed asset investments such as land, buildings and equipment before they can start their expanded operations.
After they commenced operations, new hospitals will typically need two to three years to reach acceptable capacity utilization levels.
Margin pressure of medical service providers also comes from the regulatory environment in a variety of ways, such as cap on patient fees, high license fees, higher public sector investment, and restrictions on import of foreign labor.
Add the regulations covering drugs and you have a regulated healthcare system, no matter what Wiki says. How do you think a country with a much higher per capita income than the US, spends a fraction of their GDP, compared to the US, on Healthcare without regulation? It doesn't, the system is heavily regulated by a somewhat benign dictatorial Government, that's how costs are suppressed.
Anyway, explain how their healthcare system could be copied by the US without government regulation controlling costs??