The industry is faced with financial pressures from consumers, insurers, and governments. Inflation in the industry is much higher than it is within the overall economy. Employers can no longer bear the burden of rising group health insurance costs for its employees. Too many large companies have used bankruptcy law as a shield to reduce or shift some of their legal obligations to provide health insurance coverage to present or retired employees. Stakeholders of health care providers are demanding greater control over costs.
17, Issue 31). There is a direct correlation between poverty and rising health care costs that make it hard to afford the health care that is need for a family. This author wants to explore the affects this is having on our children, marriage and domestically. Review of literature Over the past 30 years researchers have demonstrated that the number of Americans without health insurance- mostly lower class has steadily risen. Economists estimate about 2 trillion will be spent on medical care in 2007.
National Health Care Spending in the U.S. Cornelia R. McCoy HCS440 January 3, 2011 Kristina Gray National Health Care Spending in the U.S. Health care costs have been rising for several years. Expenditures in the United States on health care surpassed $2.3 trillion in 2008, more than three times the $714 billion spent in 1990, and over eight times the $253 billion spent in 1980 (Blumenthal, 2001). Decreasing this growth has become a major priority, while employers, consumers, as well as the government are challenged to keep up with health care expenditures. Dealing with this challenge will be very hard under any circumstances. So far, it has been proven impossible unless the circumstances that prevent poor and uninsured people from getting medical care are addressed concurrently.
Aetna provides health care, dental, pharmacy, group life, disability, and long term care benefits. The company offers a range of products and services under three categories: health care, group insurance, and large case pensions. Strong market position in the US healthcare combined with wide and deep product portfolio is enhancing customer base. However, significant reforms in the US healthcare industry, high dependence on outsourced vendors and increasing operating expenses, are likely to affect the company’s margins. The completion of a SWOT analysis of Aetna revealed that the company has several strength that will help usher the company into their next phase.
The prices of these technology advances have increased from a couple of hundred thousands of dollars to multi-million dollar pieces of equipments. In this rough economy, it is challenging to keep up with these types of technologies. It puts a financial strain on the healthcare institution, but many times they have proved to be worth the cost. So I believe as healthcare administrators, we must find a balance for the need, use, and maintenance of technology used in the healthcare
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.
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
Throughout the world, hospitals have taken the advantage of the availability of innovative products to provide better care services to the patients. The cost for health services has increased within the past century. Hospitals across the country have faced increased costs in health care services. A notable cause is the emergence and widespread diffusion of innovative medical technology. Payment shortfalls from Medicare, Medicaid, and uncompensated care add increasing pressure on hospital finances.
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. The issue of health care throughout the years has been a major issue in the society in the United States and it is one of the most important aspects of an election campaign of any political party. One issue concerning healthcare is that it is very expensive and more than 52 million people do not have any coverage or they have less adequate coverage. In addition, it is very important for people to have coverage for general healthcare maintenance and just in case, something drastic occurs, in their life. A well-organized, efficient health care system is not that easy to provide and one of the key problems on the way to the ideal hospitals and medical help is proper funding.
To date, U.S. cost containment policy has focused too narrowly on demand-side interventions such as changing the design of insurance benefits and increasing cost sharing. This paper summarizes the factors responsible for the rise in health care spending during the past twenty years. As the data show, most of this rise has been driven by a rise in treated disease prevalence, fueled by an increase in population risk factors such as obesity and by innovations in the treatment of chronic disease. The bulk of the paper then outlines a series of reforms that are designed to