The subject of healthcare in the United States can be a contentious one, and it is also an area where peoples’ perceptions don’t always align with the facts given by policymakers. What makes healthcare spending so scandalous is the amount of money the United States pours into healthcare each year. Over $8,000 per-patient per-year costs, amount that has more than double any of the other nation. Yet 15 to 25% of the American population has no healthcare coverage due to a lack of any form of universal health care. Despite all this money spent, efficiency in the United States system is well below that of its peers.
The position of this paper is in support for healthcare expenditures in that it is necessary for the American population. Current level of national healthcare expenditures Healthcare expenditures have risen rapidly in the last decade, imposing increasing stress on families, businesses, and public budgets. Health spending is rising faster than the economy as a whole and faster than workers’ earnings. The United States spends 19% it’s of gross domestic product (GDP) on health care, compared with 10 to 12% in most major industrialized nations.
The Centers for Medicare and Medicaid Services (CMS) projects that growth in healthcare spending will continue to outpace GDP over the next 10 years (Davis, Schoen, & Guterman, 2007). Spending: Too much or not enough? The United States has by far the most expensive health care system in the world, based on health expenditures per capita (per person), and on total expenditures as a percentage of gross domestic product (GDP). As shown in Table 1, the United States has spent $8034 per capita on healthcare thus far in 2010.
The United States health spending as a… Bill Obert Health Care Spending Paper Health care costs for individuals in the United States have increased and will continue to increase. The number of people needing care and insurance is one of the major factors in health care spending. Another factor is the amount needed to be spent on new equipment and technology which will always continue to change. The U. S. health care spending accounts for 16% of the gross domestic product (GDP), which is the highest compared to other countries.
Although the American populations have benefited from the investments made in health care, it still puts strains on the systems used to finance health care, such as private and public insurance programs. Many people are still without insurance and those who do have insurance have seen their out-of-pocket expenses grow from their deductibles and copayments (Kaiser Family Foundation, n. d. ). Health Expenditures The national health expenditures currently have reached $2. 1 trillion. According to Forman (2008), “This translated into $7,026 per person and 16% of the Gross Domestic Product (GDP)” (para. 3).
Both of these records are the highest among the nations. The hospital spending accounts for 31% of the national health care expenditure, which continues to grow. Due to a 0. 2% Medicare fee schedule update for physicians in 2006, the physician expenditure is at an generally low rate at 5. 9%. Prescription drug spending has increased to 19% due to the implementation of Medicare Part D. Administrative cost have also grown over the years and is currently at 8. 8% in the health care spending expenditure. The growth of this is due to the amount of Medicare beneficiaries who have enrolled in the Medicare Advantage plans.
Medicaid spending has for the first time ever, decreased in the amount spent on health care, partly due to Medicare Part D (Forman, 2008). Spending too much? The level of health care spending is too high and continues to… Instructor: Lori Geddes Healthcare is a very important sector in the countries around the world. The countries and the government always keep some money in their budget in relation to the health care activities in their countries. In the United States of America also, there are certain provisions in relation to the health care. The paper shall discuss about the health care spending in relation to United States of America.
It shall discuss about the current level of health care expenditure in United States of America. There are shall be a lot of discussion in relation to the fact that whether the expenditure on health care in United States of America is appropriate or not. It shall also discuss about the manner in which the health care needs of the people in United States of America are paid by the government. In the end of the paper, there shall be a forecast in relation to the health care spending in United States of America. All the above said things shall be discussed in detail in the current paper.
The government of United States of America has made a lot of provisions in relation to the expenditure of health care facilities in United States of America. In the United States of America, the health care spending has been increasing continuously (Hawe, 2008). There have been a lot of funds kept by the government of United States of America in its budget in relation to the health care services. In the year 1990, the expenditure made by the government of United States of America in relation to the health care spending was $714 million. Since then, the amount of expenditure on health care has increase to $2. 3 trillion.