Forbes October 28, 2024
The American medical system has become undeniably complex, a far cry from the days when doctors made house calls and patients paid directly for care.
With the rise of advanced medical technologies, high-priced procedures and for-profit insurance, U.S. healthcare had—by the late-20th century—transformed into a sprawling and sophisticated industry. As hospitals expanded and insurance options multiplied, individuals and businesses quickly found themselves overwhelmed by the system.
To help manage the growing complexities, a new class of healthcare intermediaries emerged. These “middlemen of medicine” assisted providers, patients and employers with tasks like billing, selecting insurance plans and negotiating drug prices. At a time when healthcare was becoming increasingly convoluted, they offered valuable solutions.
But today, rather than evolving to meet modern...
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