I think you're calling cosmetic procedures a "capitalistic sector" of the medical industry because insurance companies won't cover these elective procedures, so folks have to pay for them out of pocket, so the providers have to price the service at a level that people are willing to pay for. That all seems like a good example of companies that are competing on price, classic capitalism, fair enough.
But if we pick any other particular area of medicine where prices are out of whack -- say drug companies that raise prices by exorbitant amounts, or hospitals charging hundreds of dollars for an aspirin -- isn't that still classic, unchecked capitalism in action? Aren't these just ordinary companies, working to optimize their profits by cornering a market on certain products or services and charging the maximal value they can extract from their customers?
I don't think anyone is arguing that the market for health care is functioning well. The question is - why is it broken?
Prior to consumer protection laws, you would take your car in to an auto mechanic, they'd "fix it", and then they'd charge you whatever they felt like. Now we have laws requiring written estimates in advance. How about we start with that?
But if we pick any other particular area of medicine where prices are out of whack -- say drug companies that raise prices by exorbitant amounts, or hospitals charging hundreds of dollars for an aspirin -- isn't that still classic, unchecked capitalism in action? Aren't these just ordinary companies, working to optimize their profits by cornering a market on certain products or services and charging the maximal value they can extract from their customers?