Health Care Cost: Article Analysis

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Dominic Lombardozzi Health Care and Policy March 19th Projecting the Growth of Health Care Costs “The term “health care” evokes different images in people’s minds. To patients who find a miraculous cure, health care may be almost sacred. For physicians, nurses and other health care professionals it is a compassionate human activity. To hard-nosed economists, health care represents just another exchange of favors embedded in a wider market economy that consists of exchanging favors.” In this article Uwe. E. Reinhardt tackles the misconception of why American health care cost so much. . Reinhardt argues that American’s use of high cost, high tech procedures may only partially explain why American healthcare is among the highest in the…show more content…
per capita would predict. Some people argue that Americas demographic would explain its much higher health spending, but that is incorrect. Only 13.3% of the USA’s population is age 65 and above, spending 8000 per person compared to Germany, Italy, and Japan with over 20% of this population over 65 spent less than half per person. American’s do buy something with this (extra) spending, and that’s an extremely large administrative overhead. With all this overhead one would think the united states would atleast be among one the worlds top healthcare systems right? Well, contrary to the misconception that, ‘the American health system is the best in the world, bar none” the US Business Roundtable released a study,assisted by 12 distinguished health economists, reportingthat , “relative to health spendinglevels in the rest of the OECD, the USA faces a 24% value gap relative to Canada, Germany, Japan, and the UK (Business Roundtable,…show more content…
How can we as a people be content for so long to allow an economic sector that has absorbed an increasing portion of our incomes roughly 20% of our gross domestic product (and steadily increasing ) to operate without any meaningful price transparency. We need to demand a change in healthcare, a change that bennefits all american people not just the aerican government. There needs to be a drastic change of the supply side of healthcare, people need to have a public way, maybe websites, to compare prices and the quality of

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