The Centers for Medicare and Medicaid Services which is also known as CMS, guesses that growth in health spending will continue to outpace GDP over the next 10 years. I feel that the government is in trouble when it comes to health care. They are trying to figure out how to provide all Americans with health care, and not go broke. Not only that, but there are many other factors that contribute to the rising expenditures that might be submissive to the policy, such as investment in information technology. IT a good use of technology, such as electronic medical records, has been encouraged and researched for its potential to share more information and reduce overhead costs.
Economists estimate about 2 trillion will be spent on medical care in 2007. That is about $6,830 per person, which amounts to 16 percent of the nation’s gross domestic product. Clemmitt, Marcia (2006, April 7) Rising health cost (vol.16, Issue 13). Recent reports from (Clemmit,2006) recognize the fact that rising health care costs have made health insurance too expensive for many employers to offer and health care itself too costly for tens of millions of Americans.
Judging on the past of health care and the major developments that have been made in the last 150 years, the economics of it all have also changed dramatically. The demand for health care is nowhere near meeting the supply, struggling with retaining employees and offering efficient care all over the world. The health care economy is the most grossing industry in the United States, with a gross domestic product of 3.5 trillion dollars. With results like that, elasticity in health care seems somewhat unheard of. The need for health care is dire, yet the prices just increase.
Compared with other developed nations, America lags behind in the provision of quality and affordable healthcare to its citizens. This research paper will discuss some of the challenges facing the industry and solutions that can be applied to rectify them. Rising costs of medical care Healthcare is the leading socio-economic challenge affecting Americans. The ever increasing cost of medical care and insurance in affecting the American way of life in many aspects. Having problems paying for primary healthcare is no longer the preserve of the poor or the unemployed, but is affecting even those with medical insurance (Shea, 2005).
Health Insurance Healthcare essay National Health Insurance in U.S: The development of a national system of HEALTH CARE in the United States has remained a major topic of debate throughout the United States, especially since the 1980s. Healthcare costs in the United States have risen dramatically during the past 40 years, due in part to longer average life spans, which give rise to greater costs because older citizens require greater care, and the employment of technologies that extend the life of patients, which generally results in greater spending. Insurance costs have likewise increased dramatically, and a relatively large percentage of U.S. citizens and other residents are uninsured or underinsured. According to information from the CENSUS
Today millions of Americans cannot afford the sufficient health care they need. The price of health insurance is costing us the people thousands of dollars. Therefore, I believe the government should provide health care to all citizens regardless of their ability to pay for that care. Some rich people may prefer to pay for medical treatment, while the government must necessarily subsidize the health care for children, senior citizens, the unemployed and the homeless, as these groups cannot provide for themselves and, are extremely financially vulnerable. However, working adults can use the benefits of the medical insurance, which will give them an opportunity for a decent medical service and reduce the general taxation burden.
HRSA projects that, absent aggressive intervention, in the year 2020 the shortage will grow to more than 1 million RNs-representing a shortage of 36% (2). The “Baby boomers” are also aging and entering retirement. This has placed additional demand for the services of Nurses. Demands for Nurses is high and is expected to increase as more of the population gains access to healthcare reform. According to the American College of Nurses, “the nursing shortage is very real and very different from any experienced in the past and will grow more serious over the next 20 years” (3).
The Rise In Health Care Spending And What To Do About It Abstract and Introduction Abstract Reforms for slowing the growth in health care spending and increasing the value of care have largely focused on insurance-based solutions. Consumer-driven health care represents the most recent example of this approach. However, much of the growth in health care spending over the past twenty years is linked to modifiable population risk factors such as obesity and stress. Rising disease prevalence and new medical treatments account for nearly two-thirds of the rise in spending. To be effective, reforms should focus on health promotion, public health interventions, and the cost-effective use of medical care.
It can be quite prevailing for individuals to have financial problems towards health coverage. Based on the Health Affairs reference, “In the last decade, health insurance premiums costs have increased by 80%... whereas 58% of Americans report they are not able to seek medical attention due to high costs” (Gary Claxton, Matthew Rae, and Nirmita Panchal, et al). Statistics also present many factors exhibiting millions of individuals facing the risk of losing their insurance. Above all, health insurance is a basic health necessity. Medical services being available to everyone will benefit the public health not only with quality, but along with quantity.
SENIORS AND MEDICARE Page 1 Seniors and Medicare: Wellness Visits xxxxxxxxx xxxxxxx xxxxxxx Professor xxxxxxx xxxxxxxxxxx SENIORS AND MEDICARE Page 2 Seniors and Medicare: The Wellness Visit The controversial new Healthcare Bill and the affects senior citizens are seeing though changes in Medicare. It has changed how Americans think about healthcare. The population grew at a faster rate in the older ages than in the younger ages. Large growth in this age group is primarily due to the aging of the Baby Boom population (U.S. Census Bureau 2010). The population of adults over