The Rising Cost Of Healthcare

1926 WordsMar 8, 20178 Pages
Introduction 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…show more content…
It was something I needed so I could not refrain from purchasing it; had I met the deductible it would have cost me only fifty dollars. Cancer is another example. In an article written by oncologist Lacie Glover, her concern was about the rising cost of cancer treatment, newly approved cancer drug costs of an average of $10,000 per month, and therapy costs averaging $30,000 per month. A patient typically pays 20-30% out of pocket for drugs. Therefore, the year’s average cost of new cancer medications would $26,000-$36,000, in addition to their health insurance premiums. If you wonder why insurance premiums are constantly on the rise, reflecting on the illnesses and costs to treat them. How could we create a decrease in insurance premiums? health care specialists and physicians should share one set of tests annually sending patient to test blood work, procedures are costly and each test is billing separately to the insurance company. To elaborate, if a patient did a physical and blood work yearly other physicians should get access to it within that year if there should be the need for blood work, I would think that they should be able to use that blood similar an X-ray scan. One of my main point to my statement is that I did a complete annual lab, and less than a month I needed blood work for insurance purposes and I had to do everything all over, that was very unnecessary if tests are continually being repeated there is also the possibility of overtreating,

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