Late Stage Capitalism
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Something to be aware of when it comes to healthcare in the US: the entire industry is a huge money-making machine. It's not just the infamous insurance companies making a profit on people's health or lack of. It's pharmaceutical companies, medical supply companies, medical equipment companies, medical services companies (like software), and last but not least: medical professionals. Everyone making a profit at every level.
Take a look at this list of top 25 highest paid occupations in the US and weep. Summary: 23 of the 25 highest paid occupations are medical professionals. The only ones that are not are chief executives and airline pilots, and those two aren't even in the top 10.
For the sake of another example, I know someone who was quoted $4,000 for some dental work in the US and went to their birth country to have the work done instead. The bill was $90. Granted, it was a dental training school so that probably made it extra cheap, but they said the quality of work was better than they were used to getting in the US. It's literally mind-boggling.
This article mentions a couple of other factors that go into the price in the US that I had forgotten about: expensive medical / dental schools and medical malpractice insurance.
part of why they are so highly paid is that malpractice can go after almost all of their assets and medical school/residency enrollment slots are federally capped.
blame the government for not having anti trust lawsuits against the medical equipment and for having caps on how many people can become doctors per year.
Eh, I agree with most of what you said, except:
I don't see how malpractice lawsuits would increase the pay of medical professionals.
I don't think you can really blame the government for being toothless to fight the American Medical Association and the medical equipment lobby, as that's a result of capitalism, the topic of this community.
I expect the government to actually enforce antitrust laws, and that companies will increase wages when the employees are actually limited (which is not generally true of "unskilled" labour)