ⓘ Free-market healthcare. In a system of free-market healthcare, prices for healthcare goods and services are set freely by agreement between patients and health ..


ⓘ Free-market healthcare

In a system of free-market healthcare, prices for healthcare goods and services are set freely by agreement between patients and health care providers, and the laws and forces of supply and demand are free from any intervention by a government, price-setting monopoly, or other authority. A free market contrasts with a controlled market, in which government intervenes in supply and demand through non-market methods such as laws creating barriers to market entry or directly setting prices.

Advocates of free-market healthcare contend that systems like single-payer healthcare and publicly funded healthcare result in higher costs, inefficiency, longer waiting times for care, denial of care to some, and overall mismanagement.

Skeptics argue that health care as an unregulated commodity invokes market failures not present with government regulation and that selling health care as a commodity leads to both unfair and inefficient systems with poorer individuals being unable to afford preventive care.


1. Supporters

The health freedom movement supports free choice in healthcare. The libertarian Ludwig von Mises Institute argues in favor of deregulation of the medical profession and healthcare sector. A leading supporter of the movement, former Republican congressman Ron Paul introduced the Health Freedom Protection Act in the U.S. Congress in 2005.

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  • explained in July 2017 that the magic of the free market sometimes fails us when it comes to healthcare This is due to: Important positive externalities
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