This website uses cookies to ensure you have the best experience. Learn more

The Underlying Dynamics Of Health Care Spending

1557 words - 6 pages

Introduction
Unfortunately, for all the American overeaters, smokers, drinkers, risk takers, aging, and sick, along with anyone else that does or will require medical attention, it takes big bucks to pay for health care, and it is not getting any cheaper. With the baby boomers getting older the population is going to need health care now more than ever. The hospital stays, the procedures and surgeries, long-term care, the doctor and dentist visits, the medical supplies, and medications are hardly affordable. How will we pay for it and how much will we have to pay? Where will the money come from? Citizens, businesses, and the government are paying more and more for health care. Health care as a percent of the Gross Domestic Product (GDP) is growing and it is continuing to grow. After reviewing numerous reports and articles I will now try to recount some of the many multifaceted reasons for this growth and offer my thoughts on the subject.
The Underlying Dynamics of Health Care Spending
In their working paper, The Challenge of Financing Health Care in the Current Crisis: An Analysis Based on the OECD Data, Scherer & Devaux examine the variations of the health expenditure and the GDP ratio among different countries (2010). They presume that America “stands out as being a country for which increases in the health expenditure ratio have been largely associated with pauses or declines in GDP growth” (2010).This notion was reflected when the GDP decreased, as a consequence of the recent recession, from $14,369 billion in 2008 to $14,119 billion in 2009 (Centers for Medicare and Medicaid Services). Despite the decline in GDP, the National Health Expenditures (NHE) increased, amounting to $2.5 trillion and constituting 17.6 percent of the GDP in 2009 (Centers for Medicare and Medicaid Services, 2010). Statisticians and analysts are working to make all sorts of rate projections: the rate at which these changes will occur; the rate of economic growth; the rate of spending; basically, the rate of anything. However, history shows that unexpected events or actions taken that have serious negative ramifications may call for another complete reform.
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...

Find Another Essay On The Underlying Dynamics of Health Care Spending

The Dynamics of Character Essay

1138 words - 5 pages The Dynamics of CharacterIt is a universally acknowledged truth that the key to attaining immortality is to achieve historical significance and forever be remembered in history. The past presidents of the United States have thus accomplished what Ponce de Leon could not, by taking part in events that have shaped history. However, many are not remembered for their character, but rather for their deeds. Franklin D. Roosevelt and Harry S. Truman

Health Care: The High Price of Medication

676 words - 3 pages million Americans lacked health insurance in 2011. The breakdown of U.S health care spending in 2010 was a total of $2.6 trillion. 51% of the 2.6 trillion went to the pay of medical services performed by hospitals and physicians. The other half of the 2.6 trillion is yet to come up (its location or where it went). Hospitals got the most pay (30.74%) in 2010, that’s because half of that money was used for medical equipment and the other half for pay

Reform of the American Health Care System

926 words - 4 pages both the safety and effectiveness of many dietary supplements”. (by. Wyn Snow) The United States spent approximately $2.2 trillion on health care in 2007, or $7,421 per person. That’s almost twice the average of other developed nations health care policy. Americans are spending more money on health care than on housing or food. This health care problem is forces families to sit around the kitchen table to make impossible choices between paying rent

The Importance of Health Care Adminstration

978 words - 4 pages Health care institutions are bound to fail without the leadership of skilled and educated Health Care Administrators, also referred to as Chief Executive Officers (CEOs). Whatever types of health intuition, whether mental health facilities, hospitals, private or practice facilities or even a dentist’s office. They all must have an educated, effective and skilled administrator who is capable of leading a fully operational staff and facility

The Future of Health Care Delivery

947 words - 4 pages The Future of Health Care Delivery More than 48 million people in the United States are without health insurance. In 2010, The Patient Protection and Affordable Care Act were signed into law by President Obama. The ACA is said to be the biggest change in healthcare since Medicare and Medicaid were enacted in 1965. The Affordable Care Act (ACA) of 2010 is Obama’s plan for affordable healthcare insurance coverage and improved access to care

The Necessity of Health Care Reform

1306 words - 5 pages According to a study done by the Centers for Disease Control, 43.6 million Americans were uninsured for health care as of 2008 (CDC). This number is too high! What can Americans do about this growing problem? The Republicans and Democrats both have their separate plans for this matter, both of which contain good ideas, but fall short of what this country needs. A mixture of the two plans will solve this country’s health insurance problems

The Value of Branding in Health Care

1578 words - 6 pages membership, it does not require a media budget and viral effect can carry a message a long way for future members. Specifically, under what circumstances do you feel that it is beneficial for health care organizations to use branding? For medical marketers in the pharmaceutical field, a powerful source of competitive advantage can be gained by developing a deep understanding of the science underlying the disease or condition, knowing

The Cost of Dental Health Care

2673 words - 11 pages The economy plays an important factor of what people want to spend their money on. Dental/ oral health care is important to most people in today’s today world. Since the dental/ oral health industry is very big there are many trends that are arising such as the cost of dental care increase or decreasing, market of the industry and lastly global dental industry. There has always been a large cost on any type of health care that is offered in a

The Increase of Health Care Costs

1069 words - 5 pages . 80% of elderly over the age of 65 have at least one chronic medical condition that could either shorten their life or cause a disability (Medical News Today). The cost of health care is on the rise due to the cost of new technology. The newer the technology the higher the price for care. Technology is constantly improving forcing medical facilities to purchase new and improved technological equipment. Malpractice insurance is increasing

Effects of the Recession on Health Care

663 words - 3 pages During this time of the twenty-first century, most individuals throughout the world are experiencing an economic recession. It has gotten to the point where it has affected the health care of millions of individuals around the world. This means that these people are unable to afford to go the a physician due to loss of health care benefits or the inability to maintain health care cost as the insurance premiums may have increased. Health care

The Development of Integrative Health Care

743 words - 3 pages Development of integrative health care as complementary forms of therapy with conventional western medicine has created a trend in some cancer treatment centers. Few research studies have been conducted evaluating the impact of an integrative approach to health care, therefore Brazier, Cooke, & Monravan, 2008, researched the Vancouver, British Columbia’s integrative cancer care program at the Center for Integrated Healing using a mixed method

Similar Essays

Discuss The Ethical, Political And Practice Implications On Accountability In Nursing As A Result Of The Current Economic Climate And Recent Cuts In Health Care Spending

3588 words - 14 pages IntroductionNational Health Service (NHS) came into existence in 1948, with the assumption, that everybody, regardless of wealth should receive valuable healthcare. Since then, it became the greatest publicly funded health service in the world, however the main principal of equal access to health care for all patients remains unchanged (NHS, 2011). The NHS is funded centrally by the government, who provides the budget from national taxation

Military Health Care Policy: The Success Of Military Health Care

1869 words - 7 pages The Department of Defense has the responsibility to manage one of the United State’s largest health care systems, the Military Health System. The Military Health System operates under the mission to enhance the health of the service men and women, while maintaining a high quality, effective benefit to those who qualify for care (Brown et al, 2009). Military Health Systems cover the health care needs of over nine million service men and women and

The Underlying Message Of Power Essay

919 words - 4 pages All throughout history and even modern society, power is often sought after as it gives someone the ability to do something or act in a particular way, direct the behavior of others and provide authority to a person or body. Through the pivotal years of the main character, Jason Taylor, David Mitchell’s Black Swan Green, examines this underlying message of power and control. Taking place around 1982, relationships between spouses, social groups

The Underlying Message Of Horror Essay

2007 words - 9 pages . EXPAND King presents perception and illusion as a key thematic concept throughout his short stories. Perception is closely related to illusion, if the reader would look closer. The sense of perception is gained from the internal throughout written in King’s writings. Also the illusion is expressed through the underlying message of horror in King’s writings as well. In Suffer the Little Children and Autopsy Room Four, the idealism of perception and