The Importance Of Health Care Inflation

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.

One of the major functions of a nurse manager is managing a budget and allocating resources necessary to manage the unit or facility effectively. “Major steps in the budgeting process include gathering information and planning, developing unit budgets, developing cash budgets, negotiating and revising, and using feedback to control budget results and improve future plans”(Yoder-Wise, 2012, p. 244). The nurse manager must be able to accommodate variances and acclimate the budget in both the projections and up-to-date expenditures. Proficiency in managing a unit level budget is essential for both a favorable variance and optimal patient outcomes. Budgeting entails reviewing revenues and expenses, staffing costs, supplies, and capital equipment costs (Contino, 2001). This case study examines personnel, overtime (OT), supplies, travel, equipment, and staff education and the manner in which management can address these factors.

More and more people with medical insurance are relying on the health care system as new technologies and treatments become available. This leads to a grater number of claims for payment by insurance companies, the costs of which are passed back to health care consumers. The baby-boom generation is entering its peak health-care using period. Over eighty million Americans will turn 50 in the next 10 years. The cost of providing heath care for these individuals will be staggering

In “The American Health Care Paradox”, Elizabeth H. Bradley and Lauren A. Taylor explore why the American health care system achieves mediocre results, despite spending a higher percentage of its gross domestic product than any other country in the world on health care. They explain that health care is more than just getting medical treatment, but there are social factors that affect a person 's health. The authors claim that more government spending on medical treatments is not the solution to the health care paradox, but we should focus more on social needs that have a greater impact on health. Case studies and interviews with physicians, other health care providers, and social service providers are used to support the authors’ claims. Though the authors do not explicitly state the path they believe the American health care system should follow, they give examples of foreign health care systems and domestic health care projects that may point in the right direction.

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.

Health System Reform in the United States: Impact of Rising Premiums and Opportunities for System Improvements to Enhance Access to Healthcare Services

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

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 Role of Technology in Rising Health Care Costs. What should or shouldn’t be done.

“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.

health care costs in america are rising to help more people get access to proper health care. There is the side of the argument that raising costs of health care is unfair to those people who do not need as much coverage or those who do not want to pay or cannot afford health care. There is always the benefit if someone who does not have good enough coverage or someone who does not have enough coverage to cover there costs. I personally think that raising health care prices are a good thing because it makes health care more open to everyone

This paper utilizes five established sources to examine and analyze the effects unstable and constantly changing healthcare costs have on the American economy. These sources all express different components of healthcare spending that play a major role in the economy. By utilizing Federal Health insurance programs such as Medicare and Medicaid, these sources provide an inside look on ways in which these programs affect the economy. Cheeseman (2008) expands on how healthcare costs affect businesses and Johnson of The Associated Press describes how it affects the economy as a whole applying numerous factors such as components that make up the healthcare spending, how they hinder the progression of other aspects of economy by limiting government spending to healthcare, and their immediate effect on workers and businesses. Though healthcare is beneficial to some, Light (2016) reveals the darker effects it carries on the economy. Cohn (2014) provides a catalog of problems economists face when the facts concerning health care costs are concerned and outlines a series of statistics that display yearly growth rates in healthcare costs, and actual and projected growth in healthcare spending. Auerbach and Kellerman (2011) present findings on how increasing healthcare costs impacts the American family when available income and buying power is concerned while providing data and statistics to complement discoveries and build a solid case on how the bad outweighs the good. This

With the continued rise in health care cost, Nathan Kuafman wrote an article were he expressed a belief that a failure in the U.S. health care system is inevitable. Kaufman compares the fall of the health care system to the epic collapse of the real state market in 2007. In this essay we will explore of how the rising cost of health care effects will effect a case in the market and how organization can prepare for the assumed crash if the U.S. health care system.

Because of advances in technology and medicine, people are living longer lives. This is another reason for increased cost. The average age of insurance members today is 60 years old. By the year 2008, approximately 15 percent of the U.S. population will be 65 years old or older. (Blue Cross/Blue Shield, 2006, Healthcare costs).

1A. Market failure is a situation in which the allocation of goods and services is not efficient. In any given market, the quantity of a product demanded by consumers does not equate to the quantity supplied by suppliers. This is a direct result of a lack of certain economically ideal factors, which prevents equilibrium.