# Free Markets, Private Equity, and the Moral Case for Medicine

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Text version: https://stenobird.com/podcast/the-doctor-s-lounge-7442524/free-markets-private-equity-and-the-moral-case-for-medicine.md
Podcast: [The Doctor's Lounge](https://stenobird.com/podcast/the-doctor-s-lounge-7442524)
Published: 2026-05-17T13:00:00+00:00
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Duration seconds: 5207

## Resource

Episode Summary Jared Rhoads, founder of the Center for Modern Health and senior lecturer in health policy at the Dartmouth Institute, joins Drs. Koka and DiGiorgio for a wide-ranging conversation on the philosophical foundations of healthcare policy. Rhoads — an Objectivist in the tradition of Ayn Rand — argues that physicians have a right to pursue health, not a right to be given it, and walks through what that distinction means for real policy debates: FDA drug approval, prior authorization, the ban on physician-owned hospitals, private equity in medicine, and foreign-trained physician licensure. The episode is a rare attempt to make the moral case for free markets in medicine, not just the efficiency case. Chapter Markers 00:00 Introduction and guest background 01:52 What is the Center for Modern Health? 04:25 Objectivism, Ayn Rand, and rational self-interest 11:19 Healthcare as a private good vs. community good 13:58 Policy mistakes made for edge cases 16:58 You have a right to pursue health — not to be given it 20:14 Does Medicare violate rights? 22:47 Positive vs. negative rights in healthcare 24:47 The FDA, drug approval, and the Prasad/McCary departures 31:08 A two-tier FDA review proposal: private vs. public payers 42:25 Breaking up Big Medicine — the Hawley-Warren bill 49:43 Prior authorization: structural problem or reform target? 55:22 High-deductible plans and why price consciousness hasn't taken hold 57:43 Price transparency laws: do they actually work? 01:02:49 Section 6001 and the de facto ban on physician-owned hospitals 01:06:04 Stark Law, Medicare Advantage, and a possible reform path 01:11:19 Private equity in medicine: where are the actual rights violations? 01:19:02 Free markets and monopolies: the standard objection answered 01:21:12 Foreign-tra…

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