Throughout the nation, politicians are screaming about the soaring cost of medical care. The jump in prices was the primary argument used to force Obamacare on an unwilling public.
But did you know that the price for one area of medical services has actually fallen over the past 20 years? If you adjust for inflation, these health care costs have dropped by about a third. How is this possible? Because consumers pay for these expenses out of pocket instead of through insurance or expensive government programs.
Since 1992, the price of all medical care has increased an average of 118 percent, with an inflation rate that has increased by 64 percent. But the free-market cosmetic surgery sector only saw prices rise about 30 percent. Once you take inflation into account, that’s a big price drop, despite significant innovation and a massive increase in demand.