Healthcare Costs in the United States

Objective conditions:

> Throughout the course of time, the total cost of healthcare has risen significantly in the United States.

> The Centres for Medicare and Medicaid Services (CMS) estimate that the United States spent $3.8 trillion

on healthcare in 2019, or about 17.7% of the country's GDP. It is the most expensive healthcare system in the

world due to its elevated costs.

> Many factors, such as an ageing population, technological advances and treatments, an increase in the

frequency of chronic diseases, and administrative challenges within the healthcare system, have been linked

to rising health care costs.

Subjective conditions:

> The financial burden that healthcare prices impose on Americans, especially on those who need proper

health insurance coverage, is a major source of concern.

> Additionally, there has been a lot of discussion over the lack of universal healthcare in the US, with

diverse groups supporting a range of remedies from a single-payer system to market-driven methods.

> Some say that pharmaceutical firms and healthcare providers' desire to maximise profits serves as what

drives the high cost of prescription drugs and medical procedures, which affects many people's access to care

and affordability.

Relative aspects:

> To understand how effective and efficient the American healthcare system is, it is frequently compared to

healthcare systems in other nations.

> In comparison to other high-income nations like Canada, Germany, and the United Kingdom, the U.S.

continues to be among the highest in terms of healthcare spending per capita, based on research by The

Commonwealth Fund published in 2020.

> The issue of healthcare prices is intricately linked with debates about the function of private insurance, the

role of government involvement, and the accountability of individuals for controlling their healthcare costs.
Dynamic aspects:

> In the United States, the cost of healthcare continues to be a concern, with gradual variations through time

driven by political choices, economic circumstances, and changing medical practises.

> By emphasizing preventative treatment and expanding insurance coverage, health policy initiatives like the

Affordable Care Act (ACA), which was implemented in 2010, have attempted to reduce some of the cost-

related problems.

> Continuous system evaluation and adaptation are required as a result of ongoing improvements in

healthcare technology, medications, and treatment methods that continue to have an impact on healthcare

expenses.

Summary:

The rising costs of healthcare, which have reached $3.8 trillion and account for roughly 17.7% of GDP, is a

significant problem for the United States. There is a great deal of disagreement regarding whether a

comprehensive and universal healthcare system is necessary because of the significant financial burden it

places on individuals and families, especially those who lack proper health insurance. The absence of such a

structure, together with profit-driven incentives within the healthcare sector, is a factor in the rising costs.

Although initiatives like the Affordable Care Act have attempted to address some cost-related issues, costs

are still rising as a result of continual improvements in drugs and medical technology. The United States

consistently ranks among the highest in terms of healthcare spending per capita when compared to other

high-income nations, demanding deeper investigation into the effectiveness and efficiency of the system. In

order to provide fair and accessible healthcare for all residents, politicians, healthcare stakeholders, and the

general public must work together to strike a balance between providing high-quality care and controlling

costs. A comprehensive strategy that takes into account the influence of medical developments, the desire for

universal healthcare, and profit-driven motivations is required to handle the United States' rising healthcare

costs. Collaboration between policymakers and healthcare stakeholders is necessary to strike a balance

between providing high-quality care and maintaining financial viability while ensuring universal access.

Reference links:

1. https://www.commonwealthfund.org/publications/issue-briefs/2023/jan/us-health-care-global-

perspective-2022
2. https://www.cms.gov/newsroom/press-releases/cms-office-actuary-releases-2019-national-health-

expenditures

3. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3001814/