Transaction Costs Killed the Medical Stars
About this episode
The episode discusses how transaction costs in the U.S. healthcare system affect access to doctors and contribute to high costs and shortages.
Send us Fan Mail We try to make sense of a real problem many of us feel: paying a lot for U.S. healthcare while still waiting months to see a doctor. We trace how engineered transaction costs, from the Flexner Report to modern residency caps, restrict physician supply and protect price power while leaving clinicians overworked and patients stuck. • getting “fired” by a health system and what it reveals about access • why shortages don’t clear when prices rise, and how transaction ...
People in this episode
Host: Michael Munger
Topics covered
- healthcare costs
- transaction costs
- physician supply
- access to healthcare
- medical shortages
Keywords
- transaction costs
- healthcare
- physician supply
- Flexner Report
- residency caps
- medical access
- price power
Mentioned in this episode
Organizations: Flexner Report, U.S. healthcare
More episodes of The Answer Is Transaction Costs
- Contracting with Yourself: Akrasia and Transaction Costs
- When Mass Outrage is Cheap: TC Origins of Cancel Culture
- You are NOT "Sorry I'm Late"!!
- Parasites And Property Rights
- Books Don't Bet, They Match
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