Health Care Spending

Topics: Health economics, Health care, Healthcare reform Pages: 4 (1462 words) Published: July 28, 2014
Health Care Spending
Sheilah Schmidt
July 21, 2014
Marcia Smith

Health Care Spending
Health care is rising rapidly. Health care spending is a serious and major issue that needs more focus and stability. In 2009, the gross domestic product (GDP) rose to 17.6% and reached $2.5 trillion. The United States spends thousands of dollars per person for health care. People treated and diagnosed for chronic conditions, and obesity rates are still at large. The current health expenditure for the United States is 15.7% in Gross Domestic Product (GDP). Hospital care, physician and clinical services are responsible for half of the national health care spending increase between 2005 and 2009 (Understanding U.S. Health Care Spending, 2011). If nobody takes action, bankruptcy may be present. Further readings will explain the level of current national health care expenditures and whether the spending is too much or not enough. Further readings will also address where the nation should add the cut; how the public’s health care needs are paid for; and the future economic needs of the health care system. Current National Health Care Expenditures

In 2012, the United States spent $2.87 trillion on health care (Management, 2013, p. 1). In 2013, the United States spent $2.9 trillion on health care which is a 3.8% increase. According to Emanuel (2013), the United States spent more than the French and German economy. Health care spending is a big issue in the United States than in any other country. Five decades ago, almost all prescription drugs were paid out-of-pocket, and most people did not have coverage. Fifty years later, fewer people are paying less out-of-pocket because those individuals are receiving help from Medicare and Medicaid. Each year, the health care spending rate is growing less than 4%. “The amount the U.S. spends on health care has almost doubled since 2000 and nearly quadrupled since 1990” (Young, 2013, para. 3). Since the Obamacare coverage,...

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