Who sets the price of a private hospital bed?

Health groups are calling for ceilings on private hospital charges and medicine trade margins, arguing that the lack of a uniform system leaves patients exposed to hefty bills. The proposal is an appeal for regulation—not an announcement that price caps have been introduced—so the immediate issue is who, if anyone, sets a consistent limit.

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The affordability debate is sharpening as private capital expands in India’s hospital sector. That investment may add capacity, but it...