Health Care Cost: Article Analysis

as defensive medicine practice, new technology, malpractice lawsuit and the uninsured. New technology is the biggest factor of the rising cost of healthcare to treated patient of their illness. New technologies have seemed to be the driving force of high healthcare cost in America. The technology accounts for 38 to 65 percent of healthcare spending in America (Johnson, 2011). The annual spending of health care increased from 75 billion in 1970 to 2.0 trillion in 2005 and is estimated to reach 4.0 trillion in 2015 (Kaiser Foundation, 2013). U.S. citizens spent 5,267 per capita for health care in 2002- 53 percent more than any other country” (2005). “America spent 5267 per capita and in Switzerland they spent 3074 per capita” about 1821 cheaper than ours (Starfield, B 2010). Controlling the technology isn’t easy thing to do because of technology prices are set by manufacturing and the installer of the new medical equipment’s. However, there other way

One of the issues is the increasing cost of healthcare which is dominating the health policy in U.S. this is accompanied by an increase in spending on healthcare. According to projections by the government, the spending on medical care will continue to rise. U.S spends more money on health care than any other nation globally (Holtz, 2013). The increase in the spending is as a result of improved tools for disease diagnosis, better surgical interventions among others. This raises an issue for the policy makers on the maximum GDP percentage that a country has to spend on healthcare, and whether the nation will afford the cost that is continually growing. In contemplating any change in the health policy, policy makers should consider the cost of the healthcare and the ability of the nation to support that high cost.

Health care costs are a longstanding concern to policymakers. For years, health care spending has been rising faster than the rate of economic growth, raising the question of what factors are responsible for rising health care costs. This paper explores published articles that report results from research conducted on technological innovations in health care and its relation to rising health care costs. The cost increases have a significant effect on households, businesses, and government programs. Health care experts indicates the development and diffusion of medical technology as primary factors in explaining the persistent

Competition between providers has caused physicians and hospitals to offer the most current healthcare technologies and modern, eye-catching settings has contributed to increasing healthcare costs, as well as providing unwarranted highly technical services (Shi & Singh, 2015). Renovations of the physical settings and the acquisition of expensive technologies elevated healthcare services prices to cover the additional costs of providing high technical services and attracting clients.

The cost of medicine is closely related to the general public, so good financial incentives and health care systems have different influences on public health. In the article, ‘Corruption of pharmaceutical Markets: Addressing the Misalignment of Financial Incentives and Public Health’, Marc-Andre Gagnon argues that the commercialization of medical and financial incentives cause the corruption of the pharmaceutical system, and at the same time he explores the incentive measures to promote medical innovation and the rational use of medicines . Meanwhile, another article by Jennifer Trueland, ‘The cost of giving’ focuses on how to increase the number of organ donors and while should money be used to encourage organ donations or not. Comparing

Healthcare spending growth rate trends show astounding estimates. Since 1960, spending has risen from $27 billion ($143 per capita, 5.1% pf GDP) to amazing $1,678.9 billion ($5,670 per capita, 15.3% of GDP, 2003 data) (HHS, 2005). Recent research estimated that by 2013, healthcare spending will be as high as 18.4% of the Growth Domestic Product. It is important to note that the gradual move from hospital to ambulatory setting has resulted in much higher spending on outpatient hospital services and prescription drugs. The spending growth for these two trends is much higher than the overall healthcare cost growth, which, in fact, increases faster than such important economic indicators as GDP growth, inflation growth, and population growth rates.

Rising medical costs are a worldwide problem, but nowhere are they higher than in the U.S. Although Americans with good health insurance coverage may get the best medical treatment in the world, the health of the average American, as measured by life expectancy and infant mortality, is below the average of other major industrial countries. Inefficiency, fraud and the expense of malpractice suits are often blamed for high U.S. costs, but the major reason is overinvestment in technology and personnel.

One of the key aspects that lead to the financial hardships of Americans when it comes to healthcare coverage is the expensiveness of the coverage. The expensiveness of the coverage can be attributed to quite a few factors that directly and indirectly raise the cost. The number and type of technology used in hospitals, clinics, and other medical institutions absolutely affect the rising cost in healthcare (Ferlie &

The United States' health care industry has gone through more changes in the past ten years than any other business in modern times. Health care spending has grown exponentially over the past half-century. But for 2014-24, health spending is projected to grow at an average rate of 5.8 percent per year.1 Several factors will contribute to this growth. The population in the United States is increasingly getting older, and it is the elderly that require the most medical care. Also, medical technology has made tremendous strides during this time, and with increased technology comes an increased price tag. Rising medical costs first became an issue during the Nixon administration, and eventually

It is no secret that the US healthcare has many issues in its system. Especially, when you compare it to other countries like: Great Britain, Japan, France, Canada etc. According to Sultz and Young states that “The United States ranks eighth behind all of these nations in life expectancy at birth, highest in infant mortality rate, and highest in the probability of people dying between the age of 15 and 60 years.” The US healthcare system has many issues like a large number of uninsured According to Sara R. Collins, Munira Gunja and Sophie Beutel in the 2014 census 33 million people were uninsured. Other issues are medical professional shortage, medical error or infection, people using apps to diagnose themselves, and rising cost of care. The main focus in these paper will be the rising of cost. The cost of current health care explains for most of the issues that is happening in this country.

As stated by Baker (2007), cost-benefit analysis in healthcare is an assessment of costs associated with a program or a medical treatment and contrasted to the potential outcome benefits, thereby given a monetary value as to whether a treatment is cost effective or not. I personally feel that cost analysis can be potentially both good and harmful depending on the setting. I have experienced firsthand the harm of cost analysis in the setting of telemonitoring of congestive heart failure patients. The patient's that were enrolled in the program were those that had private insurance and since it was a pilot program it was free to the patient. The patients were given a wireless Bluetooth blood pressure monitor and scale with access to APRNs monitoring

The United States spends more on health care than any other country in the entire world. The current level of national expenditures is astounding. According to us.governmentspending.com, the anticipated total of healthcare spending in the United States is $7,400.00 per person each year (Kaiser, 2009). Over the years the total of healthcare spending has continued to increase at a rapid rate. In 2009 healthcare costs accounted for 16% of the U.S. GDP ("Health care expenditures:," 2009 ). This paper will discuss different aspects of healthcare costs in the United States and what makes it better or what makes it worse.

The aging population of the United States along with a healthcare financial system not adequate to cover the cost will be a major factor in the future of healthcare. There is a disparity in health care related socioeconomic status, age of emerging population and quality of care that require new modes of care to address patient affordability, knowledge, physician cultural competency, bias and the scope of health insurance coverage (Fiscella, 2002). The population of aging Americans will increase to 3.4 million by 2020 due to the influx of over the age of 65 retiring resulting in a 21.6% in older Americans requiring health services (Longevity, 2011). In addition, this emerging population will require additional services to an increase in life

There are a number of contributing factors that have caused the health care portion of the GDP to increase. Many analysts say the greatest source of increasing health care expenses is the costly medical technologies, drugs, and advanced treatment procedures that are being developed (Congressional Budget Office, 2008). Throughout the recession the cost of prescription drug costs and many medical services increased or stayed at the same high prices (Sisko, et.al., 2010). Additionally, the current economic situation and general inflation is causing health care spending to increase. Benjamin Sommers points out that if the United States does not find a way to curb the rate of growth in health care costs, “the nation’s ability to pay for nonhealth goods and services—such as education, infrastructure and consumer goods—will be compromised” (2010). This effect is continues to place a burden on lawmakers.

Technology has had a huge impact on health care in general. From lifesaving medical equipment and new methods of developing pharmaceuticals, to medical filing systems and new developments like minimally invasive procedures that actually cut back on overall health care spending. This paper will specifically focus on the benefits and drawbacks of the home healthcare industry and the impact of technology.