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The Cost Of Care Essay

2838 words - 12 pages

Running Head: THE COST OF CARE IN THE UNITED STATES 1The Cost of Care in the United StatesChase JurgersenThe U.S. Health Care SystemHCA 305Instructor Jean Benzel-Lindley09 August 2014IntroductionAmidst the slow growth in the national health spending in the recent years, the federal and state governments in the United States as well as individuals have continuously spent a greater portion of its wealth on health care than any other industrial nation. Over the recent years, it has been revealed that the cost of care in the United States has significantly increased, thereby making it difficult or impossible for the low class members of the society to access quality care. Despite the economic ...view middle of the document...

The rising cost of care in the United States is one of the issues that have significantly affected access, overall quality, and the cost of services available. While health care providers and institutions raise the cost of care to meet the cost of health care products such as the costs of taking care of the admitted patients such as nutritional needs, doctors and physicians increase the cost of care to meet the rising inflation and the costs of living, and the stakeholders such as insurers are seeking to maximize their profits and cater for the increasing Federal and state taxations, the cost of care is becoming expensive for the American population. This research paper investigates the history of the development of the cost of health care in the United States, investigates the international perspective of the cost of care, especially in the developing economies of the sub-Saharan Africa, describes the role of major stakeholders, and provides the policy issues related to the cost of care.Statement of the ProblemDifferent research institutions have investigated the cost of care in the United States over the past years. Research indicates that the U.S. economy grew slightly faster than the spending on health care sector, which resulted in the stability in the health care's share at 17.2 percent in 2010 (Hartman, Catlin, Lassman, Cylus, & Heffler, 2008). In the past, people never frequented health facilities for their health concerns. However, people could meet the costs of health care as it was affordable. In the last ten years, the cost of health care and the government spending on health care has significantly increased, thereby leading to incapacitation of the consumers. Research indicates that the health care spending in the U.S. is expected to reach $4.8 from $2.6 trillion and $75 billion in 2010 and 1970 respectively (Hartman, Catlin, Lassman, Cylus, & Heffler, 2008). Additionally, employees have little savings on their health care as employers do not always meet the full cost of insurance (Hartman, Catlin, Lassman, Cylus, & Heffler, 2008).Paying for health care is equally difficult for most Americans (Burtless, & Svaton, 2010). Health care insurance is one of the significant methods of reducing the cost of care. Federal and state governments have the responsibilities of providing affordable health care as well as other developments to the residents. The rising costs of health care have strained the federal and state governments, thereby hindering other developments as much attention is diverted to health care. The costs of installing and managing medical technology in the hospitals have also increased the federal and state spending. According to the research findings of the PricewaterhouseCoopers, up to $1.2 trillion, or half of all health care spending, is the result of waste (Burtless, & Svaton, 2010). In 2009 alone, an Institute of Medicine (IOM) estimated the unnecessary health spending at $750 billion. The life...

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