Oligopoly: a state of limited competition, in which a market is shared by a small number of producers or sellers.
Welcome to government health care—bigger insurance, bigger medicine, bigger health consolidations. As the WSJ points out:
A healthier market would have many new competitive entrants given the transformative pace of technological and biomedical discovery. Health-care finance and delivery ought to be evolving along with these innovations, but the only disruptive force under ObamaCare is government. So five years into the glories of “health-care reform,” the same antiquated incumbents dominate as they did before, only with less accountability to patients. Cartels don’t care about quality, safety or costs to consumers.
Read more here from the WSJ on the prospects of the federal government converging into a “single monster health system.”