What Does Commoditization Really Mean?

August 07, 2023

by Karl Denninger Market-Ticker.org

Let’s not mince words here folks: Medical care consumes one dollar in five of the economy and one dollar in three of federal spending. But the idea presented in Marcus Welby and House — that the “standard way” medicine operates is for a highly-trained and compensated physician to look at a person, examine things and then individually treat based on individual facts simply doesn’t exist, in main, any longer. At all.

If you have this condition then the treatment is X. Period.

As soon as “associations” (e.g. the AMA, firms owning hospitals plus other medical centers such as clinics, imaging, etc.) come into a field the field becomes “organized” and individualism is destroyed. That’s what associations do, whether for good or bad. Your HOA tells you whether you can park a car or RV in the driveway; it enforces uniformity across your neighborhood. The recent threats against Florida by associations of various sorts are exactly the same thing: Believe as we do or else.