Mark Perry highlights the difference between the costs of healthcare that is paid for by third parties (Medicare, Medicaid, Private Insurance) and those paid for by the individuals receiving the services.
Hospital services up 208% in ten years versus an average of 37% for services that you have to pay for yourself. Because the percentage of procedures that are third-party paid has risen dramatically, overall costs have increased.
People are just more careful about how they spend their own money than how they spend other people's money.
