Comment by derektank

>European countries didn’t flip some magic switch where they saved a bunch of money by just “cutting out the profit.”

They sort of have with pharmaceuticals (which to be clear is only maybe 10-15% of overall healthcare spending) by having the government negotiate drug prices nationally, instead of having individual insurers negotiate. This has monopsonistic effects, which really does cut the profit margins of drug manufacturers substantially. Of course, in many ways, they’re free riding on drug discovery funded by profits made overseas (particularly in America) but it does result in appreciable savings.