Founded in 1937 by a salesman who put up $2,000 and borrowed $3,000 more to start Mutual Accident Company. The company sold only one product; a $1,000 accident policy for $3 per year. Two years later he changed the name of the company and turned it into a stock company. In 1993 the company was sold for $571,000,000. Not too bad for an initial investment of $5,000.
“Continuing consolidation in the health industry has enabled providers to raise their prices without improving the quality of their services…….. The resulting lack of competition among hospitals and other providers allows those providers to monopolize the market and charge higher prices…….health insurance compounds the problem….”
Continue reading Consolidation: Less Competition in Health Care
