That's assuming the extremely broken and frankly incomprehensible American model.
Over in the EU, where most of the healthcare is single-payer (sometimes with optional add-ons/extra payers/private care), cost of care has been growing too. There are simply many more treatments which are available now than before, more tests possible to discover issues, etc. as well as of course the higher life expectancy and higher average age across the board. That doesn't mean improvements shouldn't be undertaken. Such as electronic medical files (which are the norm in multiple EU countries but sadly not everywhere, and not on an EU scale - as born in one EU country and now living in another, it would have been extremely useful to be able to automatically share my childhood records), or maybe ML to do predictions and stuff.
I agree 100%. In America the capitalist dream of competition and technological innovation actually driving costs lower for the consumer has mostly just died in almost every category. Any savings are now passed onto a cabal of private equity firms and legislatively-entrenched insurance corporations.
Goodhart's Law is in full force, and the measure of business health, profit, has become the target, rather than consumer welfare and rights. Boy have we optimized for profit at the expense of anything else.
Over in the EU, where most of the healthcare is single-payer (sometimes with optional add-ons/extra payers/private care), cost of care has been growing too. There are simply many more treatments which are available now than before, more tests possible to discover issues, etc. as well as of course the higher life expectancy and higher average age across the board. That doesn't mean improvements shouldn't be undertaken. Such as electronic medical files (which are the norm in multiple EU countries but sadly not everywhere, and not on an EU scale - as born in one EU country and now living in another, it would have been extremely useful to be able to automatically share my childhood records), or maybe ML to do predictions and stuff.