Allopaths and Osteopaths have extremely high barriers to enter their profession. The training is long, hard, and expensive. Practicing medicine is all about algorithms. Yes the generalist does not have to be einstein to figure things out, but THERE ARE A LOT OF ALGORITHMS! The same is true for specialists though there area of knowledge is more limited. Preventative medicine by staying healthy is the cheapest healthcare, stay away from your doctor. Ask your doctor if medical advice on TV commercials should be followed. PHDs in hard sciences deserve higher esteem than physicians.
Well said. The policy holders are also paying the price if/when these insurance companies can't generate enough return (thanks to ZIRP).
This is a complicated question, but basically all of the 'professions' have an element of 'racket' to them. You know, racket, as in extortion. Docs, Lawyers, Car Repair. If you haven't figured it out, then you're a dummy, or worse yet, one of THEM.