Question

1. List the factors that are considered as possible explanations for the American health care spending growth.

Answer 1

Currently, the U.S. is spending more on health care than any other nation, surpassing $2.6 trillion in 2012, or 18 percent of gross domestic product. Medical expenditure has increased more rapidly than inflation and the economy as a whole for most years. While healthcare costs ' growth pace has slipped off in the previous few years, the U.S. The Bureau of Economic Analysis of the Department of Commerce announced that expenditure on health care grew by 9.9 percent in the first quarter of 2014— the biggest annual rise in over 30 years.

Nearly half of the U.S. population has one or more chronic circumstances like asthma, heart disease, or diabetes that drive up expenses. Two-thirds of adults are either overweight or obese, leading to chronic disease and inflated medical expenditure as well.

New drugs, techniques, and processes are costly medical advances that can enhance our health and extend our lives, but they also contribute to health care costs. Patients and physicians often require the latest (costier) medicines, even if there is little or no proof that they are better.

Despite a wealth of data through medical journals and the internet on our finger tips, there is no standardized or fast way to comprehend therapy choices and the expenses associated with them. Without comparing models, characteristics, gas mileage, costs, and payment options, we would never purchase a vehicle. But that's how we're buying health care. And according to KHN, Americans differ extensively in their perspective of end-of-life problems, with some wanting every possible medical intervention to stave off death in every scenario, no matter how low the chance of achievement may be.

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