The big news in health care last week was the disclosure that CVS Health Corp. owner of a vast network of drugstores is considering buying Aetna Inc., one of the nation’s largest health insurers, for roughly $66 billion. It’s undeniably important, but why?
Clearly, economic concentration in health care is growing. The possible CVS-Aetna hookup is just a gigantic example. Hospitals have been consolidating; so have physician groups. A study published recently in Health Affairs, a journal of public policy, reported that hospitals were “highly concentrated” in 90% of the country’s…

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