The Cost Of Health Care

It is no secret that the cost of American healthcare is becoming increasingly more expensive. However, the issue of the rising cost of healthcare and its severity needs to be recognized as a major problem. Health prices are steadily increasing in the United States, and there is no sign of it stopping. Since 1970, spending on American health care has grown 9.8%, which is a rate that is growing faster than the economy (“New Technology”.) Furthermore, health insurance premiums are also increasing at a rate five times faster than American salaries, which makes it difficult for families to afford health care coverage (Zuckerman 28). Therefore, it has become an obligation to address why the cost of American health care is soaring and to seek out a solution to lower the cost. Many would jump to the conclusion that the United States simply charges too much for their medical services, but there are deeper influences that need to be analyzed. The causes of the rising cost of health care are people not using preventive health care, the development of modern technology, and the treatments being overprescribed. A possible solution is to have preventive health care services available in clinics of low-income areas.

There are three issues when it comes to the health care cost rising. The first is the rising cost in prescription drugs. The second area of rising cost is the increased technologies when it comes to the medical industry. The third problem

What I currently view as an Economic issue would be the rising costs of Health Care, everyone needs Healthcare, but because of how expensive it is, most of the population cannot afford it. Even if people do have Health Care, they cannot afford paying the high premiums, out of pocket and high deductibles. Health care might not seem like an important topic, but is necessary for the daily lives of people, nobody knows what will happen in the next second of their lives. Everyone needs affordable health care and I think that reducing the cost of health care and making it possible for everyone to afford it would make everyone happy.

There have been many studies performed focusing on the rising costs of health care and some of the findings state that the rising cost of healthcare premiums is a worldwide problem. However, I believe they are higher in the U.S. In 2015, U.S. health care costs were $3.2 trillion. That makes healthcare one of the largest U.S. industries, equaling 17.8 % of the Gross Domestic Product (GDP) in comparison to the late 1960s; where healthcare costs were only $27 billion, or 5% of the GDP, which averaged $9,990 per person each year. The main reason for the rising cost of healthcare is a combination of government policies and lifestyles changes. Examples included lack of coverage or costly coverage, lack of available coverage for

Health care expenses are a never ending headache that create numerous liabilities. Liabilities are created when goods or services are purchased on credit and obtained through short- term and long- term loans. Health care expenses create liabilities such that payments are made late or no payments are made at all. In some cases, the cost of health care expenses are unaffordable resulting in those type of payments. To prevent large health care debt, many individuals seek health insurance. Health insurance is provided by private insurance companies or by the government. It covers health care expenses and provides the necessary health care. Although, health insurance is necessary it can also be very costly.

The rising cost of health care is a trend that is negatively influencing access to health care. According to our course textbook, Policy and Politics in Nursing and Health Care, over 46 million Americans did not have health coverage in 2008, and 25 million American adults were underinsured (p. 124-125). For most people, this can be attributed to the high cost of premiums, co-pays, and deductibles. The purpose of this paper is to discuss the history of the trend of rising health care costs, the influence rising costs have on the delivery of health care, how rising costs create disparities in health care, and two ways that nurses can address inadequate access to health care.

The high cost of healthcare continues to rise and many in the United States are optimistic for health information technology to reduce and improve our current situation. Health IT encompasses a broad array of new technologies designed to manage and share health-related information. When properly implemented, these systems can help coordinate patient care, reduce medical errors, and improve administrative efficiency. Therefore, implementing a Regional Health Information Organization (RHIO) will help the National Health Information Network (NHIN) achieve their goals in improving quality of care for the citizens of the United States. Thus, in order for the health IT to deliver on its promise, several obstacles must be overcome.

“The amount people pay for health insurance increased 30 percent from 2001 to 2005, while income for the same period of time only increased 3 percent.” (Source: Robert Wood Johnson Foundation). The rising cost of healthcare is a huge problem in America today. In this paper I will analyze the different issues and causes for the increase in cost.

When it comes to health care, cost is one of the biggest problems. Something needs to be done in order to make it possible for patients, families, and businesses to be able to afford health care. US does not always spend health care dollars in the most productive way. The cost of cancer treatments alone can cost up to hundreds of thousands of dollars, and the only way to pay for that is to raise the cost of the insurance to the patients. Cost is defined as the “price” of healthcare. The “price” or cost can come from various places such as, the physician’s bill, the cost of prescriptions, as well as what the employers pay to cover their employees. The cost of treatments, emergency room visits, medicines, the cost of newest technology and etc. is what is making our increase in cost rapidly. The rising costs leads to becoming a financial burden to families, even the ones that have health insurance, which can typically result in individuals not receiving the health services that they need.

Health care is the upkeep and improvement of physical and mental well being. It is conveyed by experts in united health, dentistry, birthing assistance obstetrics, medication, nursing, optometry, drug store and other care suppliers. It alludes to the work done in giving essential care, optional care, and tertiary care, and in broad daylight health. The United States alone populates 314 million individuals, out of this unbelievable number just 60 million were uninsured. There are three significant issues in healthcare today; billions of dollars are continuously squandered and costs are soaring, the trade commercial center, and unnecessary care and endures motivation by the way we pay for care.

The nation health care system is facing significant challenges that requiring immediate major reforms. Lately close attention is drawn to the uninsured Americans, such as the most painful dilemmas of health care system. The problem of uninsured and uncompensated care continues significantly contribute to the rise of the health care cost and has been a chief topic for public debates and political campaigns for a long time. The purpose of this paper is to describe the current extent of uninsured care and provide the strategies from the nursing point of view how to change the trajectory of this prevalent issue in the USA health care system.

In 2003, health care spending reached 1.7 trillion dollars and 1.8 trillion dollars in 2004. That is 4.3 times the amount spent on national defense in this country. (California Health Care Foundation, March 02, 2005, Health care costs 101).

Not only is liability an issue, but also the mere cost of medical insurance doctors have to pay. Fewer doctors will provide obstetric care on the basis that they cannot afford the cost of insurance. This directly impacts women who need the care of these physicians. Despite having an average salary between $200,000 and $250,000 per year, OB-GYNs have the highest malpractice premiums at about $34,000. Medical students are already in a position of having to play “catch up.” Years of student debt from graduate and medical school take years to pay off, and higher medical premiums doctors face make it near impossible. Moreover, the cost of education is rising and students are acquiring greater amounts debt. According to an Association of American

Cost is a critical component of any health care system. Proper health care system ensures that a large part of the population can access good quality health care at low cost. If not well organized it might take a large part of national income and still not be able to serve a significant part of the population. The health care delivery system of United States is excellent compared to that of other countries; however, the health care alone takes 17% of gross domestic

1) In a traditional economic market, basic rules of supply and demand create a variance in price and, depending on the situation and how the market is perceptually framed, a variance in the products or services being offered in the market (Prasch, 2008). These variances create and/or are created by relationships between consumers and producers, and an implicit agreement between these two basic parties regarding the value of a good or service is reached simply by determining what price producers can produce at and what price consumers are willing to pay; the connection between producer and consumer is direct (Prasch, 2008). Even in situations where this is complicated by the existence of separate manufacturers, wholesalers/distributors, and retailers, the basic relationship remains the same for each relationship and in the overall market scheme (Prasch, 2008).