A business monopoly refers to a company or group that becomes large enough to own all or nearly all of a market. There are antitrust laws in place to discourage monopolies, and the FTC maintains that reduced competition can lead to higher costs and lower quality. The healthcare system in our area has been granted a COPA by the 2 involved states which effectively supplants the federal antitrust oversight of hospitals with a state regulatory review process. But, while competition concerns are factored into a COPA review, they may be overshadowed by perceived public benefits of enhanced quality and addressing particular public health concerns.
There are many controversies currently being debated about our healthcare system; and in my opinion, it is becoming obvious why antitrust laws were created.