Quality\nhealth rarely comes easily. Realizing a long and healthy life usually\nnecessitates the input of limited resources and this makes it an economic\nconcern. Approximately seventeen percent of the money spent in the United\nStates economy goes to some type of health care service comprising expenditure\non medical research experts, physicians, pharmaceutical drugs, nurses,\nhospitals and dentists (Feldstein, 2012). Because of this, understanding\ntoday\u2019s economy will demand the acknowledgement of the distinctive economics of\nhealth care. This documentation will focus on the various aspects of the\neconomics of healthcare. <\/p>\n\n\n\n
The\nNational Health Expenditure as a percent of GDP in the United States has been\ngrowing gradually over from the twenty century to the twenty-first century.\nOver the last thirty-three years, the NHE as a percentage of GDP grown from 7\npercent in 1970, to 15.3 percent in 2003. When the nation\u2019s GDP in healthcare\nhigh it implies that the nation is increasing the amount of production which is\ntaking place in the economy and the citizens are spending more on care (Hartman\net al., 2017). The high cost of healthcare can be supported by NHE per capita.\nOver the last decades, the NHE per capita has increased from $1,263 in 1970 to\n$5,330 in 2003. This indicates that the rate of healthcare in the U.S is\nconstantly on the rise which implies that citizens have to pay more to attain\nhealth care services. From this trend, we can predict that the cost of\nhealthcare will continue to increase in the future unless the government takes\nan initiative to prevent the rise of healthcare. <\/p>\n\n\n\n
From\nthe NHE data presented, the cost of medical care services has increased\nexponentially over the years. The health care cost is rising and many citizens\nare now unable to afford quality healthcare services. According to the latest\nreport, the United States spends approximately $2.9 trillion each year that is roughly\neighteen percent of the GDP and approximately 9,255 dollars per individual\nannually on cost of care (Mathur, Srivastava, Mehta, 2015). The continual rise\nin health care cost may be attributed to the growing and aging population. In\naddition to this there are a number of factors which increase the rate of\nhealth care including higher out-of-pocket cost and premiums, a growing number\nof people with chronic diseases and the increased cost of the emergency room\nand outpatient room care (Feldstein, 2012). The rising cost of health care\nimplies that fewer people are now in a position to afford quality health services\nin the country.<\/p>\n\n\n\n
The\ncost of hospital care has risen by 384.8 dollars between 1970 and 2003. During\nthe same period, the cost of physician and clinical services has risen by\n$296.7. The cost of nursing home care has improved by $89 while the cost of home\nhealth care has grown by 36.9 dollars in the same period. The program\nadministration fee has increased by $102.3, the cost of prescription drugs has\nincreased exponentially by $148.4 and the cost of public health activities\n$45.5 between medical care services. The trends in the health care cost reveal\nthat the cost of healthcare will continue to grow unless the government\nintervenes to include programs aimed at reducing the cost of care (Feldstein,\n2012). There are a number of factors that underwrite the rising cost of care,\nthey include growing and aging population. In addition to this, government\nprograms such as Medicaid and Medicare have increased the demand for health\ncare services which has increased the rate of care.
\n<\/p>\n","protected":false},"excerpt":{"rendered":"
Quality health rarely comes easily. Realizing a long and healthy life usually necessitates the input of limited resources and this makes it an economic concern. Approximately seventeen percent of the money spent in the United States economy goes to some type of health care service comprising expenditure on medical research experts, physicians, pharmaceutical drugs, nurses, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1080","post","type-post","status-publish","format-standard","hentry","category-research-paper-writing"],"_links":{"self":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/1080","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/comments?post=1080"}],"version-history":[{"count":1,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/1080\/revisions"}],"predecessor-version":[{"id":1081,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/1080\/revisions\/1081"}],"wp:attachment":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/media?parent=1080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/categories?post=1080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/tags?post=1080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}