...Health Care Spending Paper HCS/440 Health Care Spending Health care spending in America is at an all-time high. The baby boomer generation is reaching retirement age and its dependence on health care is greater than ever before. This burgeoning demand for health care services has put a huge strain on the infrastructure of the health care system that was originally designed to accommodate far less Americans than it currently supports. Many financial experts predict a drastic increase in health care spending in the years ahead. According to Wayne (2012), "Federal, state and local governments are projected to spend $2.4 trillion on health care in 2021, half of all U.S. medical expenditures, according to the analysis in Health Affairs by actuaries and economists from the Centers for Medicare and Medicaid Services. Government accounted for about 46 percent of health spending through 2013” (Glide Path). This particular article shows monumental increase predicted for government funded health care in the near future. Speculation regarding the impact of the Affordable Health Care Act on future spending has been mixed. Some analysts say that spending will level-off; while others state that the reform will increase spending. According to Walker (2012), "National healthcare spending grew very little in 2011 -- just 3.9%, which was the same rate seen in 2010 -- to reach $2.7 trillion. The slow growth was mostly because of the lingering effects of the recession, the study...
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...Health Care Spending Paper HCS 440 October 30, 2013 Health Care Spending Paper In the United States about 44 million people do not have health insurance. 38 million Americans have inadequate health coverage (PBS). The level of current national health care expenditures increases every year. Is this spending on health care too much or not enough? Where the United States should add or cut from, and why. How the public’s health care is paid for and who pays. The current level of expenditures of the nation’s health care is presently at $2.1 trillion. This translates to $7,026 per person, and 16% of the Gross Domestic Product (ajronline.org, 2008). Hospital spending accounts for 31%, which is over the national health care expenditures. Physician expenditures are at 5.9%, and this is presently lower than the general expenditure amount due greatly to the 2% Medicare fee for physicians. Medicare Part D is at 19% and caused a quick rise in prescription drugs. Due to the high rate of individuals that joined the Medicare Advantage plan, administration fees were at 8.8% which grew faster than the overall. Due to the vast number of people enrolling in Medicare Part D, Medicaid shrank for the first time in history. The spending with health care is very high, and continues to climb. This means that the growth rates in health care persist to surpass the overall Gross Domestic Product, and will eventually exceed other spending. The national health care expenditures will not be supportable...
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...Health Care Spending Recently the Health Care spending has risen from 2010 to 2011, there is not much hope for the future of health care, and funds that will be or should be available. Health care spending is to continue to rise over the next few years which will make it harder for Americans to get the proper health care they need. Nationally in 2012 the United States spent an estimated $2.8 trillion; however, the health care industries growth has stayed low. Federal actuary analysis has shown that in 2011 there was $2.7 trillion spent nationally; the averages per person consisted of $8,680 spent on health care. These figures show a 3.9% of growth rates in both 2010 and 2011. Not exactly what individuals want to see concerning their health and getting the proper medical care they need (NCSL. 2013). Expenses are paid out to multiple different areas, the major areas consisting of physician and clinical services, Medicare spending, private health insurance, retail prescription drugs, and out-of-pocket spending; it was these areas that percentages rose. Major areas that slowed down in the spending rate were Medicaid and Hospital spending (NCSL. 2013). The graphs below show the area percentages in which accelerated and what slowed. Health care spending has recently proven to be too much, thinking about that $2.7 trillion spent nationally in 2011, is a big part of why the United States is in debt, and cannot pull itself out. With 2014 quickly upon Americans...
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...* Skip to Navigation * Skip to Content TermPaperWarehouse.com - Free Term Papers, Essays and Research Documents The Research Paper Factory * Join * Search * Browse * Saved Papers ------------------------------------------------- Top of Form Search Bottom of Form * Home Page » * Other Topics Rising Health Care Cost In: Other Topics Rising Health Care Cost Courtney Sheegog May. 8th, 2013 Hca/210 Rising Health Care Cost Assignment • What are some of the driving forces behind rising health care spending? One of the driving forces behind rising health care spending is Technology and Prescription drugs, chronic disease, aging of the population, Administrative costs. For several years, spending on new medical technology and prescription drugs has been the leading contributor to the increase in overall health spending. (Healthcare reform .Gov. ,2011). Longer life spans, and greater prevalence of chronic illnesses. This has placed tremendous demands on the health care system, particularly an increased need for treatment of ongoing illnesses and long-term care services such as nursing homes; it is estimated that health care costs for chronic disease treatment account for over 75% of national health expenditures (Kaiser Edu.org, 2010). How do HMOs affect health care costs? HMO's often emphasize their ability to contain costs through oversight of physicians' decisions or by implementation of a capped payment scheme that aligns physicians' incentives...
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...Health Care Spending Paper Mary Guzewicz HSC/440 May 14, 2010 Bruce Nave Health Care Spending Paper With in the United States the health care cost for individuals has increased and will continue to increase. This is in a major way due to the fact that equipment, research and technology are always increasing. This paper will discuss what healthcare spending has increased and in which state has a high amount of healthcare spending. The paper will also discuss possible changes that may help lower the cost of three part of our major health care spending. There is wide variation in health care spending across the United States. Health care spending has been on the rise for years. According to (Cuckler, 2011) “In 2009, the 10 states that had the highest levels of total personal health care spending per capita were Massachusetts, Mas Alaska, Connecticut, Maine, Delaware, New York, Rhode Island, New Hampshire, North Dakota, and Pennsylvania. The per capita spending for these 10 states ranged from 13 to 36 percent higher than the average U.S. per capita spending level and ranged from $7,730 for Pennsylvania to $9,278 for Massachusetts.” These ten states have the highest health care spending and they share a number of demographic and economical characteristics. Table 1. Real per capita spending and spending growth for select provider types, 1970–2008 Average annual growth rate (%) Total Public Private Total 8.5 9.1 7.9 Hospital...
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... | | |College of Natural Sciences | | |HCS/440 Version 5 | | |Economics: The Financing of Health Care | Copyright © 2010, 2007, 2005, 2004, 2002, 2000 by University of Phoenix. All rights reserved. Course Description This course provides an overview of the economics of health care. The various payers are examined, including private, state, and federal entities. Issues such as the cost effectiveness of prevention, the management of patients and their diseases, as well as the cost of treatment settings are discussed. Third party reimbursement from various sources, ranging from for-profit insurance carriers to charitable donations, are reviewed. The health care system's use of grant funding and research dollars is described. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change...
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...Health Care Spending Paper C Murphy HCS 440 December 19, 2011 Health Care Spending Paper Today, health care issues within the United States are still a major concern in regards to where people of our communities do not always agree with what is being done and what is not being done. The three major issues with health care spending is how much is it going to cost and where is the money going to come from? The amount of per-patient costs have doubled more in the United States than other nations around us. The last issue is the amount of Americans that has no health care at all. This paper will discuss the healthcare expenditures that is necessary for our entire population. It is no secret that costs have been on the constant rise for many years. The expenditures in the United States related to health care, passed over $2 trillion in the year 2008. This has many affects not just on families that are trying to make it but also the businesses and the public budgets. Spending on health care costs are rising faster than the current state of the economy as a whole and also faster than the working people's wages. The United States spends about 20% of the GDP ( gross domestic product) on health care alone opposed to other countries that are spending no more than 12%. Within the next decade or so, the Centers for Medicare and Medicaid predict that the health care growth will surpass the GDP. In the United States, we have the most expensive health care system because it is based...
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...Running head: HEALTH CARE SPENDING PAPER Health Care Spending Paper Lonna Becton 10/31/11 Steven Miracle Health Care Spending Paper Health care and health care spending is a huge topic that will always be discussed for years to come. Throughout the years, there are millions of monies spent on health care organizations to make them better to improve services to the public. For a long time there have been debates on how to come up with a solution for funding. So far the issue is the same and health care spending is gradually rising. Expenditures in the U.S. on health care exceeded $2.3 trillion in 2008. As a result of this growth it has become the main policy priority as we, employers, consumers, and the government fight to keep up with expensive health care costs. Even though we all benefit from investments in health care the rapid cost growth and the economic slowdown together have great strains on the systems used to finance health care which include employer sponsored health coverage and public insurance programs like Medicare and Medicaid. Premiums for employer sponsored health insurance have increased pushing burdens on employers and employees. While workers’ wages are decreasing or at a standstill health care costs is steady growing and employees cannot afford out of pocket spending. The United States is a capitalistic country; they put the blame on private consumers and other establishments like employers or insurers. The American health care system is...
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...NBER WORKING PAPER SERIES HEALTH CARE FINANCING, EFFICIENCY, AND EQUITY Sherry A. Glied Working Paper 13881 http://www.nber.org/papers/w13881 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2008 I thank Courtney Ward for research assistance and participants at the conference on Exploring Social Insurance, held in Toronto, November 2006. A version of this paper is forthcoming as a chapter in Exploring Social Insurance: Can a Dose of Europe Cure Canadian Health Care Finance? Edited by C. M. Flood, M. Stabile and C. Hughes Tuohy (Kingston, Montreal: Queen's School of Policy Studies, McGill-Queen's University Press). The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peerreviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2008 by Sherry A. Glied. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. Health Care Financing, Efficiency, and Equity Sherry A. Glied NBER Working Paper No. 13881 March 2008 JEL No. H42,H51,I18 ABSTRACT This paper examines the efficiency and equity implications of alternative health care system financing strategies. Using data across...
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...ECONOMICS TERM PAPER Theme: Health expenditure by Government in India Title: Health care and expenditure: an analysis of Indian Government’s Welfarism Name: Prakhil Mishra Semester : IV Roll no.: 13BAL027 Table of contents Sr.No. | Content | Page number | 1 | Abstract | 03 | 2 | Introduction | 04 | 3 | Why health expenditure is important | 04 | 4 | Trends in public spending | 05 | 5 | Core areas of spending | 10 | 6 | Conclusion and critical comments | 11 | 7 | Learning outcomes | 12 | 8 | Bibliography | 12 | Abstract Healthcare is a prime indicator of the development in a country. It is the basic function of a state to look after the needs of its citizens pertaining to health and nutrition. In India, there are high numbers of malnourished and undernourished people, and most of them are children under the age of fourteen. Health expenditure in India is a holistic approach of the government as a welfare state to ensure proper distribution at highly subsidized rates for the resource less people. The paper deliberates upon the government spending on health (Where it spends and how much it spends) and tracing of the changing trends in entailment of expenditure. Key matter of contention includes: * Introduction to public spending on health * Why spending on health is important * Changing trends in public spending on health and family welfare * Core areas where spending is done: analysis with the help of laws * Conclusion and critical analysis Key...
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...Health Care Spending Paper Milagros Garcia HCS440 November 2nd, 2011 Professor Larry Gonzales Health Care Spending Early in history physicians cared for patients and charged them at a reasonable rate for the goods and services provided to him or her for illnesses. Today in society health care organizations are working side-by-side with third parties, which are insurance companies, to receive payments for treating individuals when he or she become ill or are in need of serious medical attention, such as surgery procedures. Employers offer health benefits to the employees, which he or she can also add family members to his or her insurance policy to be treated and seen for health care services. The price for health care services are rising every year, and it is making it hard for most individuals to afford health care. Low-income individuals and illegal immigrants are those who suffer because they cannot afford the high prices of health insurance premiums. These outrageous health care costs definitely occur because of the costly spending health care facilities due to keep the facility open for business. The health care industry has grown to become a business and use marketing techniques to compete against other health care facilities. To keep clientele, some hospitals do major upgrades to attract and keep new and old patients. Also purchasing state of the art equipment has its advantages. It shows to outside individuals that the quality of care at their facility...
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...Factors of Health Care Expenditure: Opportunities to Improve Canada’s Statistics [Authors Name] [Institutional Affiliation(s)] Author Note [Include any grant/funding information and a complete correspondence address.] Table of Contents Introduction………………………………………………………………………………2 Comparing Health System Performance…………………………………………………4 Sweden’s Healthcare Policy Framework………………………………………………...8 Canada’s Opportunities for Improvement………………………………………………..9 Conclusion……………………………………………………………………………….11 References……………………………………………………………………………….13 Influencing Factors of Health Care Expenditure: Opportunities to Improve Canada’s Statistics Globally, the number of variations that contribute to the government’s financial contribution to the health care system is great and ever changing. The amount of money spent on health expenditures varies as well, and is specific to each country. In countries with a high income, such as the United States and France, the per capita health expenditure averages over 3,000 USD, while in countries that are considered resource poor, such as Israel and Mexico, the average per capita amount is only 30 USD. (Ke, Saksena, & Holly, 2011). Wide variations in health expenditure are also specific to each country’s economic development. Less resourceful countries have been noted to only spend less than 3% of GDP on health, while other, more economically developed countries spend more than 12% of GDP on health. (Ke et al.,2011). The growth of health expenditures...
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...As noted health care spending has been rising for several years across countries around the world. Between now and 2050, the OECD predicted that for average nations, public spending on health and long-term care could almost double as a share of GDP in the absence of new policies to address trends in this sector rising from the current average level of 6-7 % of GDP to around 10% (OECD 2006). That estimate includes the consideration that as people live longer, they also remain in good health for longer. Even including cost containment measures, results have shown that public spending on health care are expected to see large increases, and in less wealthy countries, those increases could be dramatic. The dynamic of these changes has been characterized...
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...The Governments Fiscal Policy and Healthcare Proposals Trisha Elledge Colorado Christian University Abstract Bernie Sanders is looking to convert our country to a universal single-payer healthcare system. The following paper will break apart the article written by Avik Roy for Forbes titled Bernie Sanders’ Single-Payer Health Care Plan Would increase Federal Spending By At Least $28 Trillion. By converting to a single-payer healthcare system households would suffer more than they would thrive. Increased taxes, less government revenue and a higher unemployment rate can all come from implementing Berniecare into our country. Although Bernie Sanders is claiming to give “free” healthcare to all, I will point out why it is not free at all and why we should give the control of our healthcare back in to the hands of the people and out of the control of the government. The Governments Fiscal Policy and Healthcare Proposals According to Reem Heakal with Investopedia, “Fiscal policy is the means by which a government adjusts its spending levels and tax rates to monitor and influence a nation’s economy.” This can include the changing of tax rates nationally or adding a new local tax, adjusting where money is spent and allocated or changing where our government dollars and tax dollars will be used. Each year the government decides where our money will be divided out by agreeing on the upcoming year’s budget, however; as the year goes on money is overspent or gets cut and has...
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...Health Care Spending HCS/ 440 Health Care Spending In our society today, heath care is one of the top major concerns within the United States. Many individuals do not always agree with the decisions made for health care, the more concerned issues are the increase and where the money will be coming from to pay the costs of increase. Patient’s costs has doubled more in the U.S than any other country along with leaving some people without health care. This paper will discuss health care expenditures, as well as spending is too much or not enough. This paper will also discuss whether or not the nation should add or cut in certain areas and why. How the public need for health care are financed and the percentage of expenditures they represent. Lastly, I will provide future economic needs of the health care system along with reasoning for addressing these needs, and envisions for financing these needs. The spending for health care uses a great deal of the economy revenue, the national studies that have been completed within the past decade clearly shows many U.S citizens will have to make decisions that are disconcerting based on their ability to obtain affordable health care. As health care cost has been on the rise for many years. The expenditures in the United States to health care rose above $2 trillion in 2008. This has affected many families and businesses as well as the budget for the public. Health care spending cost are increasing at a more rapid rate than the economy...
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