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JOURNAL OF APPLIED BUSINESS AND ECONOMICS

Towards a “Free Market” Medical System

Author(s): Ian J. Shepherd, Dee Ann Shepherd

Citation: Ian J. Shepherd, Dee Ann Shepherd, (2011) "Towards a “Free Market” Medical System," Journal of Applied Business and Economics, Vol. 12, Iss. 2, pp. 102 - 116

Article Type: Research paper

Publisher: North American Business Press

Abstract:

Does the medical system in the US operate in a free market environment or does it operate as a highly

regulated and price controlled industry? The discussion surrounding health care reform centers on this

principal idea; is private insurance or public insurance the key to improving health care in the US?

Debates over the universality and funding of a revised health care system have focused primarily on

government and private company controls while ignoring the consumers themselves as having a

controlling interest in the matter. This paper discusses issues surrounding the current US health care

system and proposes a free market approach to health care that restores control of the personal medical

process to the consumer.