Question

The US spends more on medical services and devotes a larger percentage of its gross domestic product to medical care than most other countries. However, there is much discussion on what factors have led to this and the impact on the overall quality of care provided. This will be the topic of this week’s assignment.

Identify and discuss the factors that prompt medical prices and quantities to change. Be sure to discuss the impact of these factors. Discuss the impact of inefficiencies in our system on the increase in expenditures. Comment on some of the approaches that can be implemented to reduce medical expenditures.

The paper should be 3 pages (APA). (excluding title page, abstract, reference page, and appendices).

Answer 1

Expenses of health care US in compare to other countries:

health care expenses in US compare to other countries its keep on going high rate, The US was relatively on pace with other countries until the 1980s , when healthy spending grew at significantly fast rate relative to its GDP in 2016 the US spent nearly 18% of its GDP on health, whereas next highest comparable country is Switzerland devotes less than 13% of GDP to health

Recently, the office of actuary, center for Medicare and Medicaid has planning of long term view health care cost in US health care spending will consume 38 percent of GDP by 2075, a figure some might find alarming and unaffordable. In fact , the previous CMS forecasting methodology assumed no gap between health care cost growth and GDP growth in the long run, in part because it was perceived that such gap could not be sustained by economic status.

All developed counties health care cost almost high compare to developing counties, mostly in developed counties more health conscious, educated, job holders, all type health care facilities is available at door step this also one of the reason US health care cost is high. Health care service employee pay also is high compare to other countries in US Nurse, Physician, billing, all other Medical devices .