National Healthcare Expenditures
From 1970 to 2008, health care spending in the United States is projected to increase from $74.9 billion to $2.4 trillion, an increase of over 3000%.1
Of the many different challenges facing American Healthcare, the rising cost of healthcare is the paramount problem in our system. The exponential increase of the nation’s total healthcare expenditures over the past decades and the projected future trajectory of these costs will continue to have devastating consequences for the nation as a whole. Importantly, figures regarding national healthcare expenditures include the costs associated with both public and private healthcare, meaning healthcare’s rising cost cannot be blamed on one form of the system but rather on the system as a whole. The cold hard truth is that as a nation we lead the world in healthcare spending, yet only receive a system whose quality ranks 37th in the world (WHO 2007). By examining the rise in healthcare costs to the nation as a whole, the trends we find are disturbing and without change, it only stands to get worse.
- In 2007, America’s healthcare spending alone would represent the world’s seventh largest economy.
- The United States currently spends more on healthcare than on food or housing. 2
- By 2015, it is projected that US health spending will double from over $2 to nearly $4 trillion per year, going from 17% to 20% of GDP. 3
1 www.cms.hhs.gov/nationalhealthexpenddata/
2 Modern Healthcare, December 2007
saracarrol
In recent days America is facing huge expenses on the healthcare sector. It seems quite large in comparison with other countries. But the fact is that, can they continue it in the same way? I am afraid the global recession is going to claw them back.
Puppies for sale
saracarrol
The projected expenditure looks huge, but it’s really a big ask that if they can continue this. I hope that their spending on the Iraq war will decrease in upcoming years. That will help them a bit I think.
Wheels for sale
saracarrol
now this huge amount can sound disturbing if we compare it with the 3rd world countries. I think now time has come for the realization, that we need to help them as well.
Dogs
saracarrol
Well Sara, I think you have heard before “Health is wealth”. So if necessary, government should spend wealth in health sector. There shouldn’t be any compromise with health care! Free Classifieds
bendjamin
There will be much in the way of discussion on this question. I think that the answer to the questions offered depends largely from which position you speak. If one is speaking from a position of wealth and relative comfort with their financial condition, health care might not be seen as a very large concern. At the same time, if one is speaking from an economically challenged condition, the costs of health care are massive and can cause a great deal of economic stress. It is difficult to ascertain "pure facts" because of the politicized and partisan debate that has engulfed the issue recently, but has always been there to a large extent. If one believes that the reformation of the health care industry is critical, two ideas will resonate. The first would be that National health spending is expected to reach $2.5 trillion in 2009, accounting for 17.6 percent of the gross domestic product (GDP). Also we have greate life insurance for seniors. By 2018, national health care expenditures are expected to reach $4.4 trillion—more than double 2007 spending. Such numbers indicate a great deal of growth that must be accounted for or resolved. Given the current economic crisis with which the nation is wrestling, this becomes challenging. The second would be that national health expenditures are expected to increase faster than the growth in GDP: between 2008 and 2018, the average increase in national health expenditures is expected to be 6.2 percent per year, while the GDP is expected to increase only 4.1 percent per year. Again, seeing that growth is already slowed, confirmed by double digit unemployment divulged yesterday, this will prove to be a challenge. Additionally, some believe that there is a correlation between the increase in cost and the rise of the uninsured. This would be where the belief is that some level of government action will help subside some of the rise in costs. The hope would be that that government involvement might be able to assist individuals in receiving health care outside of this exponential growth in costs. If government can help in any realm to alleviate costs and expenditures in both enhancing preventive care measures and providing some level of respite to those who have insurance and coverage to those that don't, the thinking would be that this could be vital in offsetting the mammoth growth of health care costs.
Allen001
If speaking from an economically challenged condition, the costs of health care are massive and can cause a great deal of economic stress. In our case, the expenditure may sound huge but this is the only way we can run a nation of productive citizens, it has a domino effect just like any economic problem that this politicians are tying to resolve in the present times. Allen, offering genital warts solution.