Red in STL
Turnover not takeover
Broadly you are correct though there are many non-profit providers, my local hospital is one of them but even then the costs are sky highMy spouse ran up medical charges of well over half a million dollars during the last 10 months of her life. This was several years ago. Medical providers in the US charge exorbitantly high prices. Her health insurance more or less covered the costs but you can see why insurance premiums are set so high in order to make the numbers work (and build in a nice little profit for Thompson et al).
Medical providers, drug companies and health insurance companies are all part of the problem because they are run to make money instead of providing a service. From my observations, health care in the US is excellent quality but poor value for money.
Almost a decade ago I had foot surgery that required a week in hospital, I also had a vacumn type pump to aid recovery (I had a toe amputated) that required a nurse home visit 3x a week for 2-3 months
The weeks stay in hospital was billed at $35K and didn't include the surgery cost, at the time, the vacumn thing was rented at something like $1800 a week, the nurse was someting like $300 a visit (25 mins work + travel)
I calculated the total cost billed to the insurance for everything came to about $250K
By chance I'd had a hernia surgery earlier in the year so I met my annual deductible pretty quickly, I think of that $250K I actually paid about $1500 of it!