Headlines:

Should animals be used in research?

About Palliative Therapies To Treat Mesothelioma

HIV/AIDS: What Methods of Treatment Can the Modern Medicine Offer?

Should the State Regulate Social Media Use to Prevent Its Negative Impact on Mental Health and Social Media Addiction?

Homeopathic Medicine

Should unhealthy people be refused emergency organ transplants due to their lifestyle choices?

Artificial Coma

Should Abortion be Legal?

Understanding Cancer Research Studies and Evaluating Outcomes

Alternative Medicine

Should unconventional forms of medicine be part of national healthcare?

Is quarantine a useful measure?

Should Euthanasia be Illegal?

LINK BETWEEN POVERTY AND HEALTH

SHOULD DOCTORS BE ABLE TO PROMOTE PARTICULAR MEDICAL PRODUCTS?

Brain Injuries and Their Consequences

IS THE COST OF HEALTHCARE IN THE U.S. JUSTIFIABLE?

Virus infections and their treatment

SHOULD CLONING/GENETIC ENGINEERING RESEARCH BE ALLOWED?

The Treatment Of Pregnant Women And Their Differences

The Role of Paramedics in General Health Care

SHOULD CHILDHOOD VACCINATION BE MANDATORY?

Should uninsured people be provided with any medical care?

Understanding the history of medicine and religion

The ethical aspects of medical research on humans and animals

Antibiotics Role in Diseases Treatment, Resistance and Solution

SHOULD EUTHANASIA BE ILLEGAL?

Homoeopathy as compared to traditional forms of medicinal treatments

Possible Ways of Medicine Development in the Future

Medical instruments history and evolution

Should marijuana/drugs be legalized?

Chronic Diseases and Treatment

Covid-19 Vaccine: What to Expect

Genetic Engineering and Cloning

The Need for International Cooperation During Covid-19 Pandemic

Epidemics and pandemics in human history

Child Health Care And Its Differences From The Adult Ones

New COVID-19 Restrictions In Washington And Michigan

A heart-healthy and “stroke-free” world through policy development

The history of vaccination: benefits, dangers, and prejudice

Sleep Disorders

Eating Disorders: Anorexia and Bulimia

Supporting the Health Care Workforce During the COVID-19 Epidemic

Characteristics of Hospitalized Adults With COVID-19

Aging and Changes in Physical and Mental Health

Can Excess Exercising Worsen Health?

Biomechanics In Medicine

Artificial Tissue and Organs

Should scientists work to make computers displace doctors?

Amazing Homeopathic Medicines

Viral Infection and Powerful Treatments

Cancer treatment and research 2021

Effects Of Smoking, Alcohol Consumption, And Drug Abuse On Human Health

Should there be state regulation of fast food chains?

Autism: a disease or a variant of norm?

Should Teens Be Able To Obtain Birth Control Pills?

Should there be state regulation of fast-food chains?

Alzheimer’s disease: is it possible to battle it?

Doctors Have the Highest Mortality Rate from Covid-19

What drives healthcare cost in the US in 2021 ?

Should doctors quit their jobs not to deal with COVID-19 ?

Should there be an opt-in or opt-out donor system?

Should the state provide free health care to homeless people?

Who should decide whether to place an elderly in the elderly center? A person himself, children, or health care specialist?

Is the French doctor suggestions to test the vaccine in Africa is a sound strategy or an act of racism?

How should the issue of obesity be treated?

Should people be encouraged to homeopathy first?

Doctors Have the Highest Mortality Rate from Covid-19. What are the ways to decrease it?

Can medical research pose a threat? If yes, what are the ways to mitigate it?

Should the state refuse to import the products, obtained at the cost of someone’s health?

Should a doctor be able to provide medical care to a minor despite their parent’s wish?

Should scientists research options for people to become immortal?

Should doctors be required to report cases of organ trafficking?

Should surrogate pregnancy be used on-demand or only for health reasons?

Has Corona Virus Given A Boost to Telemedicine? Is it A Viable Alternative to Traditional Consultations?

The impact of Corona virus on a specific vulnerable population: the poor, homeless, people with mental illnesses

Should TV commercials for alcohol/fast-food chains be banned?

Should there be criminal responsibility for medical errors?

Should the state refuse to import the products, obtained at the cost of someone’s health?

Should US hospitals provide a free translator to non-English speaking patients?

Should animals be used in research?

Do we need a dedicated global agency that would deal with covid 19 and other future pandemics?

Generic selectors
Exact matches only
Search in title
Search in content
What drives healthcare cost in the US in 2021 ?
healthcare

Date

The United States spends significantly more than the expected healthcare cost as compared to other European countries; such spending is quite an unexpected one for continued growth. Particularly, it creates a problematic situation because it will exacerbate the nation’s debt because of the inability to get better healthcare outcomes. The high cost of United States healthcare also hinders the thwarted public health crisis just like the covid-19 outbreak, as people are unable to pay for treatment and tests.

What are the expected healthcare costs percentage?

Nowadays, the United States is included in the list of highest healthcare costs globally. Over the past few decades, the Gross Domestic Product (GDP) is increasing from 5% to 18% (estimated from 1960 to 2020). $3.6 trillion spent in 2018 on healthcare that is an average cost is $11,000 per person.

The Centers for Medicare and Medicaid Services (CMS) that average cost will be $6.2 trillion means $18,000 per person. If we estimate from the past 20 years of healthcare cost, we assume that the consumer price index (CPI) for healthcare has grown by 3.5% per year.

What drives the cost of healthcare?

Usually, things that drive healthcare costs are based on utilization (the number of services used) and price (dollars charged for healthcare services). Several underlying functions include that increase the utilization and price; thus, it boosts the spending on healthcare. The most notable factors that drive the cost of healthcare are:

Population

aging In 2016-20.0, the individual’s age is 65% that is an over accounted population of the U.S (16% higher). The Census Bureau projects although cited as a factor in aging, it is probably not responsible for recent increases in spending because the current generation of older people has not yet increased in disproportion; and a more efficient health care system tends to slow the progression of severe illness in this generation.

Rising costs for medical goods and services

In 2021, drug costs have increased rapidly. One of the reasons is the increased cost of developing a new drug (i.e for covid-19), often reaching almost a billion US dollars. The cost of drug development reduces the economic incentive to develop drugs with lower potential returns.

Medical fees

Physicians spend about 20% of total health care costs. Physicians in the United States receive higher remuneration compared to other professional doctors in many other countries. This discrepancy is partly because doctors in other countries tend to spend much less on their medical education and professional liability insurance than in the US and have lower office overheads.

 

Read More: Should the state provide free health care to homeless people?

High administrative costs

The percentage of administrative costs in the structure of total health care costs is estimated at 20% to 30%. Most of the administrative costs are due to private insurance, and most of these costs are due to marketing and underwriting, processes that do not improve medical care.

Final words:

In 2021, Healthcare spending amount to almost 4.6% that is more than European countries. The percentage comes from the total health spending is the sum of total public and private health spending. The use of new technologies and drugs may be the biggest driver of increasing health care costs. The use may be appropriate or impractical, but in any case, the cost increases.

 

healthcare

Share on facebook
Facebook
Share on twitter
Twitter
Share on google
Google+
Share on reddit
Reddit
Share on linkedin
LinkedIn
Share on email
Email

More
articles

Join DBN Today!

Let DBN help guide you to success!

Doctors Business Network offers everything new and existing health care providers need to establish and build a successful career! Sign up with DBN today and let us help you succeed!