Medical fee guidelines

Is it wise to have guidelines for medical fees, to be set by the medical association?

I think so.

If medical fees are open to free competition, the consumers may be worse off. It is quite difficult for the consumer to judge what is right and fair, in the fees that are charged by doctors for various types of treatment and medication.

If the guidelines are set by the medical association, the public can refer to the association to act as the standard bearer.

I wish to quote the situation with the financial services industry. The institutions are free to design their products and to charge their prices. This has resulted in financial products that are profitable to the issuers but do not give a fair deal to the consumers.