Health Spending
Health Spending
Health care costs have been proliferating within the last ten years, and this is attributed to some several factors. One of the reasons for this is the increasing number of aging populations who are most vulnerable and have high chances of suffering from chronic diseases. The out of pockets costs and the emergency costs have also been on the rise, and this has led to an impact on the overall health of the people of America. With the affordable care act, some decency was brought to the health department where the costs were catered for by the government. However, in other places, the costs remain a problem where many people cannot be able to afford them. This hitch of high costs is especially felt by the uninsured people who find it hard to take care of their medical bills (McCarthy, 2015). Lastly, the prices of medical products have also been on the rise especially the imported ones contributing to the rise in the growth of the health care costs.
Health care costs directly impact the growth of the country’s gross domestic product (GDP) in a way. One of the essential indicators of economic benefits from health care costs is the price of most of the imported medical products from other countries. The demand for high quality is on the rise, and hence some products through imports contribute to the country’s GDP. Additionally, America has its industries that produce and manufacture health care products like medicine among other equipment that contribute to the wellness of American citizens. Although they contribute to the high cost of health care in the country, they significantly contribute to the growth of the economy through their manufacturing and purchase. Regarding the costs, medical prices continue to rise and but the people’s income does not change. This makes it almost impossible for them to raise such money and end up not receiving the services they require.
Change needs to be done to the health department in general to paint a new face on the issue of quality health care. An example is the Narayan hospital in India led by Dr Shetty where the poor receive free cardiac surgery while this is compensated by money paid by the rich for the same services. The hospital does not import products and instead uses the locally available ones to achieve this hence cost cut by a more significant margin (McCarthy, 2015). America should also adapt this to go in handy with the affordable health services program by the government. Another recommendation is the increase in the number of hospitals to take care of patients to be financed by the government and patients should have to pay nothing in them. The Senate and the Congress should incorporate this in the constitution where the budget to pay for the sick should be formulated and set aside.
References
McCarthy J. (2015). India’s Philanthropist-Surgeon Delivers Cardiac Care Henry Ford-Style retrieved from http://archive.kuow.org/post/indias-philanthropist-doc-delivers-cardiac- surgery-henry-ford-style