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Health Care Spending

In: Business and Management

Submitted By destiny44
Words 1252
Pages 6
National Health Care Spending
Tylecia Westbrook
HCS/440
Oct 8, 2014 Dr. Laura Newton

Introduction
Healthcare spending in the United States plays a vital role in the US economy. The healthcare field is a growing professional. There is millions of dollars that are spent on healthcare each year. From research, drugs, new technology and patient care it is the driving force of the health care system. Health care has provided lots of jobs and a means of survive for many Americans. With insurance companies driving up the cost of premieres and the new Affordable Care Act into place health care spending will only continue to drive the price up. With all of the demands for cues and people wanting to leave longer there has been a major impact on Health Care spending.
Health Care Expenditures
Over the last several years the U.S. health care expenditures has been on a rise. Heath care has risen so fast that many Americans have not been able to keep up even with their earning in order to be able to afford healthcare. “The U.S. spends 16 percent of gross domestic product (GDP) on health care, compared with 8 to 10 percent in most major industrialized nations” (2014, The Commonwealth Fund.). According to the Centers for Medicare and Medicaid Services projects that the increase in health spending will outpace the GDP over the next 10 years. (2014, Centers for Medicare and Medicaid). In recent headlines the healthcare rate has been at a slow rate of 3.7%. Although that may sound good however the quote for the National Healthcare Expenditure from the Center of Medicare and Medicaid is projected by 2022 to be 5 trillion dollars.
Spending Too Much or Not Enough
According to Jarret Wollstein who wrote an article from The Freeman, healthcare spending has increased from 25 billion in 1970 to 280 billion in 1990 (Freeman, 1992). There is no denying that the cost of...

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