[somnic]

Okay, how do moral hazard (as defined here), information asymmetry, and monopoly not apply to public health systems as well? Point 5 here is a little under-explained, how exactly does demand for healthcare reduce supply and why can public systems cope with that while private ones fail? And which aspects of medicine are non-excludable and non-rivalrous, aside from herd immunity? From what I can tell vaccines tend to be subsidized by the govt. in the US anyway, which doesn't require overhauling the entire healthcare system to rectify.

I'm quite pleased to live in a country with a decent public healthcare system. It does indeed have some significant benefits. It still has half the problems on your list, and more besides.