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Spring 2020

ISSN 0890-913X

Volume 35, Number 1

Categories: Spring 2020 | Medical education

US Health Care’s Biggest Problem: AMA Monopolization of the Physician Labor Supply

Robin S. McCutcheon, Marshall University

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TheJournalofPrivateEnterprise35(1),2020,77–103USHealthCare’sBiggestProblem:AMAMonopolizationofthePhysicianLaborSupplyRobinS.McCutcheonMarshallUniversity––––––––––––––––––––––––––––––––––––––––––––––––––––––AbstractThispaperdescribestheillegalmonopolizationofmedicaleducationbyprogressives.ThisresearchbrieflyreviewsthehistoricalbeginningsofthemedicalindustryintheUnitedStates.ItgivesparticularattentiontotheimpactprogressivessuchasAbrahamFlexner,ArthurDeanBevan,JohnD.Rockefeller,andAndrewCarnegiehadonmedicaleducation,alongwiththeAmericanMedicalAssociationandstateandfederallegislation.Theresultingmonopolizationofmedicaleducationhasconstrainedthesupplyofgeneralandfamilypracticephysiciansandisafelonyviolationofthe1890ShermanAntitrustAct.Thisbriefhistorylaysthegroundworkforfutureresearchonmarketconcentrationinthehealthcareindustry,aswellassupply-sideeffectsofmedicalspecialtychoicebygraduatemedicalresidents.––––––––––––––––––––––––––––––––––––––––––––––––––––––JELCodes:I13,I19,L44,N31Keywords:healthcare,monopolylegalprivilege,physicianlaborsupplyI.IntroductionThecontrolofanyindustryviaoneentity’sownershipofafactorofproductionconstitutesamonopoly.Theresultinthemarket,whentheentitycontrolstheentryandexitofitscompetition,isupwardpressureonthepriceofgoodsorservicesinthatindustry.Ahighlyconcentratedmarket,whichisthehallmarkofmonopolisticallycompetitivemarkets,rarelybenefitsconsumers,fortheyhavenochoicebuttopurchasegoodsandservicesfromthemonopolist.Consumers’inabilitytofindcomparablesubstitutesalsomeanstheywillpayahighermarketpricethanifthereweremarketcompetition.Amonopolist,ofcourse,rarelywishestogiveupcontroloftheindustrybecauseitcontrolsthemarketpricethroughthesupplyofthegoodsorservicesitoffers.Toholdontoitscontrol,typically,themonopolistwillseekhelpfromapowerfulagent,usuallygovernmentlegislation,tosecureitfromcompetition.

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Title	US Health Care’s Biggest Problem: AMA Monopolization of the Physician Labor Supply
Authors/Creators:	Robin S. McCutcheon, Marshall University
Year:	2020
Volume:	35
Number:	1
Pages:	77 - 103
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	health care, monopoly legal privilege, physician labor supply

Citation:
McCutcheon, Robin S. / 2020. "US Health Care’s Biggest Problem: AMA Monopolization of the Physician Labor Supply." The Journal of Private Enterprise, 35(1): 77-103.