...Health Care Spending Economics: The Financing of Health Care HCS 440 December 15, 2013 Health Care Spending The American Dream is described by The Free Dictionary as, “An American ideal of a happy and successful life to which all may aspire” ("Definition," 2013, p. 1) yet this can mean different things to different people. To this student it means happiness, prosperity, health, freedom, and the ability to makes choices according to what this student believes in. For other people, the American Dream will mean similar and probably different things. To many Americans the ability to have health care is a part of the American Dream. Obtaining health care insurance and being able to choose the insurance they can afford is part of their own American Dream. This choice usually comes through their employer or through being self-employed and choosing the appropriate health care insurance. This piece of the American Dream is becoming increasingly expensive and unobtainable. This student will explore current national health care expenditures, is there is too much spent or not enough if cuts need to be made, how health care needs are paid for, and a forecast of the economic needs of the health care system. The level of the current national health care expenditures Health care costs continue to increase. According to the Centers for Medicare and Medicaid Services (CMS), “U.S. health care spending reached $2.7 trillion in 2011, or $8,680 per person. Health spending grew 3.9...
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...Health Care Spending Paper C Murphy HCS 440 December 19, 2011 Health Care Spending Paper Today, health care issues within the United States are still a major concern in regards to where people of our communities do not always agree with what is being done and what is not being done. The three major issues with health care spending is how much is it going to cost and where is the money going to come from? The amount of per-patient costs have doubled more in the United States than other nations around us. The last issue is the amount of Americans that has no health care at all. This paper will discuss the healthcare expenditures that is necessary for our entire population. It is no secret that costs have been on the constant rise for many years. The expenditures in the United States related to health care, passed over $2 trillion in the year 2008. This has many affects not just on families that are trying to make it but also the businesses and the public budgets. Spending on health care costs are rising faster than the current state of the economy as a whole and also faster than the working people's wages. The United States spends about 20% of the GDP ( gross domestic product) on health care alone opposed to other countries that are spending no more than 12%. Within the next decade or so, the Centers for Medicare and Medicaid predict that the health care growth will surpass the GDP. In the United States, we have the most expensive health care system because it is based...
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...By: Amanda Messler-Layman HCS 440 Health Care Spending. Health care is a huge added player in the hat rides the Current national expenditure levels in the United States has more than tripled in the past decade, while the amount of Americans that can afford private health insurance has dropped and the number of people relying on Medicaid and Medicare has increased with the aging baby boomer generation. Medicaid and Medicare being two of the governments most used medical insurances, the spending in health care has grown faster than the economy can bear. The Medicare physician reimbursement system provides a kind of “public good” for other insurance programs; that is, it offers a universally understood and practiced standard fee schedule that insurance companies can adopt or easily modify by changing the dollar conversion factor separating certain categories. Medicaid, BlueCross, and commercial insurance contracts that cover the 87 percent of the population under age 65 often base their payments on a modified form of the Medicare RBRVS or use Medicare payment levels as a benchmark (Getzen & Moore, 2007). Spending for health care uses a greater part of the economies revenue: the national studies that have been done in the past decade depict that many citizens of the United States will have to make increasingly more disconcerting decisions in daily life and ability to obtain and afford adequate health care insurance for themselves and their families. While...
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...Economic Terms and Health Care History Courtney Kuhns HCS/440 November 19, 2012 Khaki Weber The history and evolution of health care economics is as changing over the course of time as is our country itself. These changes can be contributed to the evolutionary growth in the United States since the beginning but it is also because of the continuing advances in health care and technology. It is important to understand the history of health care economics and identify the flow of funds system to move forward in health care with better service and change things for the future. As with any business, health care is moved forward and changed with money as the driving force to make profits and sustain business. The health care industry has to find a way to thrive and also make sure people are getting proper and needed care to continue moving forward while keeping the nation healthy. Getzen & Allen (2007) state “Whereas in the past, the majority of individuals paid their medical bills with private funds, today insurance companies and other third parties cover the majority of payments, with individuals paying only a small fraction of the total flow of funds with private money. Just as the source of funds has changed, so has the use of those funds. Increasing intensity in the quality of medical services has resulted in increases in medical spending that surpass increases in inflation, wages, and even the use of health care services”. History shows that back in the 1800s to...
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...of Phoenix HCS/440 1/30/2012 Economic Terms and Healthcare History Health care economics have drastically changed over the course of history in the United States. While some can contribute these changes due to the evolutionary changes the US has undergone since the beginning, the major contributing factors that influence the changes in health care economics are advances in technology and medical care. “To help ease the healthcare problem, Baylor Hospital in Dallas created a system - which eventually became Blue Cross - to help people pay their hospital bills. As science, medicine, and hospitals grew more sophisticated and more successful, more people turned to hospitals and doctors for care - and costs continued to rise. Blue Shield insurance for doctors' services started gaining ground in the late '30s as a way for doctors to protect their interests and their payments” ("How Did Healthcare Come About In The United States?", 2012). It is essential to remember that the driving force behind health care economics is money, and it plays a vital part to the success of the health care industry. In the past, the greater part of us paid medical bills with private funds; today insurance companies cover the bulk of the payment, with people paying only a small portion of the total. It is important to understand healthcare economic history, and the cash flow system. Today, financial managers are able to follow the money through the health care system. History...
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...Healthcare Spending HCS/440 July 24th, 2014 Healthcare Spending The national healthcare spending within the United States keeps increasing annually. The overall deficit keeps increasing due to national healthcare expenditures. In 2012, the healthcare deficit was three trillion dollars. Due to services such as medical treatments and health insurance; the healthcare spending will continue to increase. National Healthcare Expenditures In the United States, the overall projections are primarily based on the National Healthcare expenditures. These projections are measured by the form of services or goods provided. Services may include physician care, hospital care, and clinical services rendered. Goods may consist of necessary prescription drugs and medical equipment. The source of funding for the services performed and the required goods may come from Medicare, Medicaid, private insurance, and out-of-pocket expenses ("National Health Expenditure Projections 2012-2022 ", 2012). Health Care Spending in the United States According to recent studies in the United States, the projected health care spending is to increase by almost six percent between by the year 2022. This is actually a percent faster than the Gross Domestic Product (GDP) expected. Researchers thought that the healthcare spending would remain around four percent since the economic recovery was very slow at the time in 2013. There would an increase in cost- sharing requirements for Medicare, Medicaid...
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...Health Care Spending: Ryan Abels HCS/440 February 25, 2013 V. Lynn Waters Health Care Spending Abstract Health care spending has been the main topic of many debates over the last several years. There are many things that contribute to the rising costs of health care. More than 40 million Americans lack any health insurance at all and cannot afford even the most basic health coverage. This paper will focus on healthcare spending, the current level of the national health care expenses, whether or not we’re spending too much or not enough, where cuts or additional spending should be made in this nation, and how the public health care needs are paid for. Evaluation of information The health care policy is one of the many concerns the United States. Different polices include Medicare, Medicaid and the State of Children’s Health Insurance Program. A lot of Americans want to see a all inclusive type of universal health care benefits. Many other countries have these type of benefits. Through these Medicare policies debates continue to arise from each and every policy. Health care spending in the U.S. in higher than any other major country and yet forty seven million Americans remain uninsured now that might change with Obama care however that is a different policy and debate. There are many factors in the rising health care cost. It is estimated that over two trillion dollars are spent on medical care. That is approximately $6,830 per person. The number...
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...Health Care Spending January 21, 2015 University of Phoenix HCS 440 Marcia Smith Health Care Spending The health care issues within the United States continues to get worse. The amount of spending is rising to an all-time high and with the new health care laws in place the situation is getting worse. With the current state of the economy and the new health care rules and regulations a patient’s ability to cover the costs of living and health care is a battle. Unneeded budget spending is the tops reason for the high costs associated with health care. Medicare and Medicaid are the two most overly expended health care programs within the United States. If these programs and budgets are not controlled and corrected, there will be no coverage availability for the younger aging generations. How can this conflict be change for future needs and what is the government doing about this? Current Expenditures The United States measure the amount of spending on a yearly basis to track and control costs associated with needs, each year these estimates are changed to reflect the needs of the measures. In the 1960s the NHEA began to measure the annual U.S. expenditures for health care which includes; goods and services, public health activities, government administration, the net cost of health insurance, and investment related to health care. In 2013 the annual health care expenditures reached $2.9 trillion dollars or an estimated $9,255 per person. ("Cms.gov", 2014). According...
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...Health Care Spending in the United States Lisa Patti HCS/440 April 23, 2012 Caryn Callahan Introduction Heath care in the United States is costly and confusing. Many do not follow the facts, policies or cost the government has controlled in health care. This leads to obtaining the incorrect insurance that causes high out of pocket expenses to choosing no health insurance at all. In today’s society many cannot afford health insurance, in 2010 49.9 million people in the United States were without health insurance (Overview of the Uninsured in the United States: A Summary of the 2011 Current Population Survey, 2011). The issues that will be discussed are the level of current nation health care expenditures, whether spending is too much or not enough, where the nation should add or not, and why, and how the public’s health care needs are paid for and financed by various payers. The current level of national healthcare expenditures U.S. health care costs have risen rapidly in the past few years, imposing increased stress on families, businesses, and public budgets. Health spending is increasing more rapidly than the economy and workers' earnings. In recent years, insurance administrative overhead has been rising faster than other components of health spending, while pharmaceutical spending has increased more rapidly than spending on other health care services (The Common Wealth Fund, 2007). The national health care expenditure is a total amount spent in the United States...
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...National Health Care Spending Tylecia Westbrook HCS/440 Oct 8, 2014 Dr. Laura Newton Introduction Healthcare spending in the United States plays a vital role in the US economy. The healthcare field is a growing professional. There is millions of dollars that are spent on healthcare each year. From research, drugs, new technology and patient care it is the driving force of the health care system. Health care has provided lots of jobs and a means of survive for many Americans. With insurance companies driving up the cost of premieres and the new Affordable Care Act into place health care spending will only continue to drive the price up. With all of the demands for cues and people wanting to leave longer there has been a major impact on Health Care spending. Health Care Expenditures Over the last several years the U.S. health care expenditures has been on a rise. Heath care has risen so fast that many Americans have not been able to keep up even with their earning in order to be able to afford healthcare. “The U.S. spends 16 percent of gross domestic product (GDP) on health care, compared with 8 to 10 percent in most major industrialized nations” (2014, The Commonwealth Fund.). According to the Centers for Medicare and Medicaid Services projects that the increase in health spending will outpace the GDP over the next 10 years. (2014, Centers for Medicare and Medicaid). In recent headlines the healthcare rate has been at a slow rate of 3.7%. Although that may sound...
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...Health Care Spending in America Teresa Foster University of Phoenix May 20, 2012 HCS/440 Instructor: Michele Burke Health care spending in America has been growing by leaps and bounds and has surpassed the national economy. There are many American's that are without proper health care services, because of losing coverage due to the reduction in employment and the recessing economy. With the constant conflict with the current health care reform, legislators are aware that health care spending needs to become a balanced solution. The current health care system in the United States has many holes to fix, the government has made many attempts to bring spending under control. The theory of bring more managed care and competition into health care can potentially aid in bringing spending in health care under control. Because health care expenses are becoming more of a burden on Americans, the choice of going to the doctor and paying living expenses is becoming more evident in most American households (Altman & Wallack, 1996). Current National Health Care Expenditures According to the National Health Expenditure Accounts (NHEA), it is estimated that health care spending in American has grown annually from estimates dating back to the 1960s. Expenditures include, the net cost for health care insurance, public health services, the cost for medical service and other health related goods, investments that are related to healthcare. During 2010, health care showed an increase...
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...Health Care Spending Marsha Whiteside October 1, 2012 HCS/440 Caryn Callahan Health Care spending is on the rise and is going to continue to rise year after year. The United States spends more on health care than any other country and with the loss of many jobs and low income families the spending is going to continue to rise. The United States spends nearly $2 trillion annually and spends two-and-half times more than the Organization for Economic Cooperation and Development (OECD) average (Johnson, 2012). There are many factors that contribute to the health care spending which include: technology, prescription drugs, rise of chronic diseases, and administrative cost. Not all people are in agreement with the health care spending in the United States and feel if there was some changes made, the spending would be lower and the United States could focus on other issues. The level of current nation health care expenditures is on the rise and is causing hardship on families as well as businesses. The United States spent seventeen percent of its gross domestic product (GDP) on health care which is higher than any other nation (Johnson, 2012). Fifty one percent of the health care expenditures in 2010 were made up of hospital care and physician/clinical services. The other forty nine percent includes: home health care, other professional services, nursing home care, Rx drugs, government administration, net cost of health insurance, investment, and other health and personal...
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...Greenberg HCS/440 January 17, 2013 Eric Oestmann, PhD, PT Health Care Spending In 2010, health care spending, or health expenditures in the United States neared $2.6 trillion. That is more than ten times the $256 billion that was spent in 1980. In recent years, the growth rate of spending on health care has decreased in relation to the growth rate during the late 1990s and early 2000s. However, it is still predicted to increase more rapidly than the national income over the foreseeable future. Addressing this pressing concern has been, and continues to be a major policy priority. Mainly because the United States has been experiencing a significant recession for much of the past decade. This economic recession has resulted in higher unemployment rates and lower income rates for much of the American population. These tough economic conditions have helped to focus even more attention on health spending and affordability in this country. From 2012 to 2012, employer-sponsored health coverage for family premiums has increased by 97 percent. This has been the cause of increasing financial burdens on both employers and employees. In the public sector, Medicare covers the elderly and people with disabilities, and Medicaid provides coverage to low-income families. Enrollment for these programs has grown tremendously in both Medicare, with the aging of the baby boomers, and in Medicaid due to the recession. This means that the total amount of government spending has increased...
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...Healthcare Spending Heather Satterfield HCS/440 July 19, 2012 Osama Metry Healthcare Spending Healthcare spending involves researching trends of expenditures at a national level as well as researching the effects of the economy. It is important to take into account what best benefits the healthcare system. It is important to discuss how healthcare needs are financed and the immediate attention needed for the future of healthcare. In the current economy the cost of healthcare has risen and wages have decreased. In order for an employer to provide insurance for employees it is necessary for premiums to go up because the insurance companies have doubled the cost for the employer. Over the last ten years the percentage of one’s income that is paid for insurance rose from 12 percent to 22 percent. The reason for this rise is due to private payers’ compensation rising from 5.4 percent to 7.3 percent. This caused the employees’ salaries to go down. Due to this, small business were on a fast pace to going under. In order for the small businesses to stay above water it was necessary to cut insurance coverage from 65 percent to 59 percent. The Affordable Care Act was developed for relief on the premiums. In addition it protected Americans that were uninsured or had preexisting conditions. It was once thought to be impossible to receive healthcare benefits if one had a preexisting condition. In the year of 2014 it is thought that insurance costs will decrease....
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...The Health Care Reform LaNette Hardy HCS/440 November 28, 2012 Facilitator : Thomas Kehoe The Health Care Reform The United States Healthcare reform went under transformation with the changes of Presidents. During the year of 2009, changes were made when our country begin to face difficulties in the financial deficit, which the country still today experiencing. It will explain that the level of the National Health cares spending that was impacted whether it was for the good or worst. It also gathers the total expenditure percentage. The economic of the future of the expenditures is explained to be at a percentage that is represented. The National Expenditure level of the Healthcare in the United States in 2010 was in the round or about $ 2.6 trillion of the Healthcare expenditures .During the time of 1980 the Healthcare expenditure gradually spent over ten million dollars which was approximately stated to be $256 billion. So with the over spending the nation would be explained whether the there should be and cut and or why it was needed.(Expenditures Data, January 2012). A forecast of the health care system in the future economic has a need. The future according to the Health care spending, 2008 It has been predicted that the forecast will have a growth in a faster rate in the nation. During the earlier years the rate had begun to rise in the year of the 1900's and early 2000's the growth rate had slowed down tremendously. (Health care spending...
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