Transaction Costs Killed the Medical Stars

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 ...