...Health Care Spending Does one know about health care spending and heath care expenditure in the United States? Health Care spending in the United States comes from several sources such as physician service, patient treatment, prescription drug treatment, administration cost, Medicare, Medicaid and hospital spending, These sources are just a very few of the sources of spending on healthcare in the United States. On March 23, 2010 President Obama passed the healthcare reform bill to help citizens with receiving affordable healthcare. Even though health care spending has improved over the years, health care is something that everyone needs and there is a possibility that this could change over the years to come. According to Santiago (2009), the goal of healthcare reform is to make healthcare more accessible and available to American citizens. Currently, the national health care expenditures are at a struggle but yet continue to grow. According to Foreman (2011) National health expenditures reached $2.1 trillion in 2006, after further revisions and a 6.7% increase from the previous year. This translated into $7,026 per person and 16% of the Gross Domestic Product (GDP) (Foreman, 2011). These expenditures include but are not limited to those sources such as physician service, patient treatment, prescription drug treatment, administration cost, Medicare, Medicaid and hospital spending. The Obama Reform is a reform that has been transmitted to make healthcare available for...
Words: 1037 - Pages: 5
...Health Care spending is on a raised emotional and physical. Health care spending is concerning the United States economy is healthcare system. The majority countries the healthcare system in the United States is not public, meaning that the state does not provide free or despicable healthcare services. However other countries Canada and Great Britain, for example, the government funds healthcare providers through taxes. The United States being a profoundly capitalistic country for another route and passed the burden of healthcare spending on private consumers as well as other institutions such as employers, insurers, etc. Everything would have been fine unless statistics showed dramatic increases in healthcare spending over the years. American healthcare system is the most expensive one in the world; in 2004 America spent about 16% of nation’s Gross Domestic Product on healthcare services, which is approximately $1.9 trillion (Economist, 2006). Furthermore, annual spending continues to grow 10 to 15 percent every year (Davis et al., 2003), which is faster than the national inflation growth rate. However, healthcare spending in the United States requires abrupt analysis and new policy solutions; or else it would become an uncontrollable fund-consuming machine. American economists are now trying to understand the nature of the growing healthcare costs, and to analyze its impact on the overall nation’s economy. Health and Human Services Department identified the major trends...
Words: 1097 - Pages: 5
...One of the issues that is widely discussed and debated concerning the United States economy is healthcare system. Unlike in the majority of developed and developing countries, the healthcare system in the United States is not public, meaning that the state does not provide free or cheap healthcare services. In Canada or Great Britain, for example, the government funds healthcare providers through taxes, and such a system is called social. The United States, on the other hand, being a profoundly capitalistic country, opted for another route and passed the burden of healthcare spending on private consumers as well as other institutions such as employers, insurers, etc. Everything would have been fine unless statistics showed dramatic increases in healthcare spending over the years. American healthcare system is the most expensive one in the world; in 2004 America spent about 16% of nation’s Gross Domestic Product on healthcare services, which is approximately $1.9 trillion (Economist, 2006). Furthermore, annual spending continues to grow 10 to 15 percent every year (Davis et al., 2003), which is faster than the national inflation growth rate. Thus, we can see that healthcare spending in the United States requires immediate analysis and new policy solutions, otherwise it would become an uncontrollable fund-consuming machine. American economists are now trying to understand the nature of the growing healthcare costs, and to analyze its impact on the overall nation’s economy. Health...
Words: 1268 - Pages: 6
...Costs Of Healthcare Christine Amargo HCA305 The U.S. Health Care System Sherry Grover June 9, 2014 Everyone wants to have access to health care and in order to access it they need insurance, but unfortunately not everyone can afford health insurance. The United States spends more money on health care than any other country, but raise the cost of health insurance to the citizens. Health care should be affordable if the government is willing to spend as much money as they are on it. Health insurance should be able to affordable to all classes lower, middle, and higher. The citizens of the United States has the right to know why their insurances cost are going up and if they are going to get more bang for their buck. The reason why healthcare cost is rising each year is because no one is managing the spending. Money is being spent between all accounts of healthcare and shared amongst each other. There needs to be a line where companies stop spending and try to manage the money they have if they don’t the cost of healthcare will just keep rising. The primary issues of healthcare cost are access to healthcare, and affordability of healthcare. The United States health care spending has been growing rapidly for many years, but many citizens are without appropriate health care. This is affecting the two governments major health insurance Medicaid and Medicare and the private insurance companies. As the health care spending rises, the citizens will be faced with difficult choices...
Words: 1975 - Pages: 8
...Running head: MEASURING THE U.S. HEALTHCARE SYSTEM 1 Measuring The United States Healthcare System Luc John Arnaud HCM 550 Quality and Performance Improvement in Healthcare Colorado State University Global Campus Dr. Gloria Wilson March 27, 2016 MEASURING THE U.S. HEALTHCARE SYSTEM2 The Organization for Economic Cooperation and Development (OECD) is based in Paris, France, and it is essentially an assembly that comprises over thirty members (countries) who work with each other and who all share common commitments to democratic states and market economies. The goal of the OECD is to promote and improve economic growth, prosperity, sustainable growth, and expansion of each nation (OECD United States Mission, n.d.). The OECD “tracks and reports annually on more than 1,200 health system measures across 30 industrialized countries, ranging from population health status and nonmedical determinants of health to health care resources and utilization” (Anderson, F., Squires, D., 2010, para 1). The article titled Issues in International Health Policy clearly exposed the fact that the United States of America fundamentally lacks behind the majority of other developed nations as it’s related to the efficiency, effectiveness, and solvency of its overall healthcare system industry. The facts and data within the article come from an analysis of health data from 2006 from the OECD, ...
Words: 1421 - Pages: 6
...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...
Words: 1252 - Pages: 6
...Healthcare Spending HCS/440 Healthcare Spending United States healthcare spending exceeds healthcare spending in any other country in the world. These increasingly high figures of healthcare spending cost are influenced by several different reasons. An aging population, illegal immigration, and technology advancements are some of the few influences on rising healthcare costs in America. It is imperative that health care costs are managed and soon because the government is finding it quite difficult to sustain everyone’s needs. In addition, healthcare reforms must be made to lessen healthcare costs before the quality of healthcare reduce in a drastic way. Healthcare spending has been on a continuous incline in America throughout the years. According to Center for Medicaid and Medicare Services, in the year of 2008 health care cost rose to $2.3 trillion in the United States; this was 4.4% higher than 2007 costs. Healthcare costs are averaging a little over %16 of the entire Gross Domestic Product (GDP). In 2008 Medicare spending increased 8.6% and Medicaid spending increased 4.7% in the same year. In addition, hospital stays physician rates, clinical visits, and prescription medications increased as well. 31% of a $1.6 trillion healthcare cost has been designated strictly for hospital stay care. Clinical and physician services are accountable for about 22% however, proposals from physicians account for a much vaster percentage of health care costs. Prescription medications...
Words: 1328 - Pages: 6
...have been debating healthcare for the last hundred years. Before the 1900s, doctors didn’t have much technology to diagnose and treat the sick, so it was more affordable to patients. Once new medicines were found, doctors started taking advantage of these new treatments, which increased cost. Therefore, as the cost went up, the public needed a way to pay for the treatments; this was the start of health insurance. Health insurance and healthcare came about during the time of the Great Depression. There are currently two main methods of providing healthcare: public and private. Public healthcare provides universal access and is funded through the government. Two forms of public healthcare are Medicare and Medicaid which President Johnson signed into law in 1965. Medicare, or public healthcare, was first enacted by the U.S. government to provide healthcare to the elderly. Medicaid provides insurance to anyone who has a disability or is in poverty. Private insurers are funded by premiums and cover clients while also making a profit. The first private insurer was the Baylor Hospital in the 1930s, which later became Blue Cross Blue Shield Health Insurance. The purpose of this report is to determine whether private healthcare coverage, as it currently exists in the United States, is more or less effective than a single payer system according to three criteria: cost, availability, and quality. Method: The Commonwealth Fund supports research on healthcare issues and helps to...
Words: 1530 - Pages: 7
...According to the latest GDP report release by the United States Census Bureau it indicates that the United States has the highest percentile of total spending on healthcare issues than compared to the rest of the world. As a result for working people struggling just to get by the deeping economic crises means getting push even closer to the financial brake facing growing ascended stress on how they will manage if someone in the family needs to see a doctor and staring to just afford the cost of every day life. Having to choose between doctor visits or putting food on the table. The purpose of this paper is to provide the current level of national health care expenditures, explain whether or not the spending is too much or not enough, and explain where the nation should add or cut and why and how the public’s health care needs are paid for in the future. Whether or not the spending is too much or not enough The United States is currently undergoing major and tragic budget cuts due to the nation’s troubling deficits. Our economy’s woes have been a long time coming but were always placed in the back burner until eventually has placed a huge hole too big to continue to “bandage”. With it being said that the United State’s GDP is represented as the highest in healthcare spending; one would imagine the American people are the healthiest. This is not the case. Studies indicate the nation is troubled by the highest rates in issues that were affected by the choices of our...
Words: 568 - Pages: 3
...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, 2008). In the United States there has been a active period of an recession that has...
Words: 1213 - Pages: 5
...The Love-Hate Relationship between the U.S. Healthcare Industry and the U.S. Economy The healthcare industry plays an important part in the economy of the United States. The sustained increase and high level of spending on health care has been the subject of discussion and scrutiny for several decades. The enactment of the Patient Protection and Affordable Care Act of 2010 (ACA) was hardly the first fiscal policy for healthcare in the history of the economy. There is a long list of fiscal policy attempts from predecessors such as Franklin Roosevelt, Harry Truman, Richard Nixon and most recently Bill Clinton (Sparer, p462). In 1933, Franklin D. Roosevelt drafted amended provisions to his pending Social Security legislation to include publicly funded health care programs but ultimately removed the provisions due to opposition by the American Medical Association (Coombs, p5). Following the Second World War, President Harry Truman called for universal health care as a part of his Fair Deal in 1949 but strong opposition stopped that part of the Fair Deal (Peon, p161-168). On July 30, 1965 President Lyndon B. Johnson signed into law the legislation establishing the Medicare and Medicaid program, social insurance programs administered by the United Stated government providing health insurance coverage to people who are either 65 or meet other special criteria for need (Roemer, p845). In October 1972, President Richard Nixon signed the Social Security Administration Amendments...
Words: 3827 - Pages: 16
...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...
Words: 780 - Pages: 4
...Unavailable Healthcare Student’s Name: University Affiliation Unavailable Healthcare Agency for Healthcare Research and Quality. (2002). Health care costs: Fact sheet. U.S. Department of Health & Human Services. Retrieved on March 12, 2013, from http://www.ahrq.gov/research/findings/factsheets/costs/health-care/index.html The United States department of health and human services has an agency that is dedicated to conducting studies on the cost of healthcare to inform lawmakers and citizens alike. The Agency for Healthcare Research and Quality (AHRQ) has done extensive studies on particular ways to target the increasing cost of medical care. This is in recognition of the cost as a barrier to the availability of healthcare to the poor. Ayanian, J.Z. & Van der Wees, P.J. (2012). Tackling rising health care costs in Massachusetts. The New England Journal of Medicine, 367, 790-793. Retrieved March 21, 2013, from http://www.nejm.org/doi/full/10.1056/NEJMp1208710. Massachusetts is an example of a state on how to enact healthcare reform. Ayanian and Van der Wees (2012) investigate how Massachusetts has handled the rising cost of healthcare. In 2010, the state attorney general found that there was a great variation in the price of medical care throughout the state (Ayanian & Van der Wees, 2012). The state passed a law whose aim was to control medical care costs; Brill, S. (2013, February 20). Bitter pill: Why medical bills are killing us. Time. Retrieved Sept 5...
Words: 1627 - Pages: 7
...Health Care Expenditures in the United States Dekenia Lockhart HCS 440 April 23, 2012 Steve Linerode Health Care Expenditures in the United States Introduction The topic of healthcare spending in the United States (U.S.) is a controversial one, and most often, the populations’ opinions doesn't always agree with those of policymakers. Getting health care spending under control is vital for the economic health of the government and the people of the United States. What makes healthcare expenditures so disgraceful is the large amount of money the government spends on healthcare each year versus the number of people without health care. The amount of money the U.S. government spends on health care each year doubles that of any other nation. Despite the large amount of government spending, a large percentage of Americans have no healthcare coverage. This shows inefficiency in the system that needs immediate attention. The purpose of this paper is to explain healthcare expenditures suggest changes for the future that are necessary for Americans to receive reasonably priced health care. Current level of national healthcare expenditures The current level of national healthcare spending is at an all time high and expected to steadily climb. The U.S. Centers for Medicare & Medicaid Services (CMS) explain that National Health Expenditures (NHE) “rose 4.0% to $2.5 trillion in 2009, or $8,086 per person, and accounted for 17.6% of Gross Domestic Product (GDP)” (The...
Words: 1534 - Pages: 7
...Economic Terms and Healthcare History Natalie Ward University 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...
Words: 952 - Pages: 4
