More evidence of market failure in healthcare services

Health care is not broccoli. More evidence comes from this graphic that compares the cost of procuring hip replacement surgeries for public insurers and for those purchasing directly from the market place.

While some differential is to be expected between wholesale and retail purchases of broccoli, there is little justification for a 150% mark-up in the private (read competitive and free) market.

Update 1 (19/3/2013)

Excellent graphics from Time highlighting the state of health care in the US. Two graphics stand out.