Indeed, the US is well-known for spending too much on healthcare. Have you ever tried to find out an appropriate answer for it? If not, let’s talk about it.
It is said that the administrative costs of our healthcare systems are really high as compared to any other country which is why there is a significant increase in prices of the health system in the US.
Another reason for US healthcare being so expensive is that the costs of pharmaceuticals drugs are incomparably high. Patients opt for too many treatment services for the treatment of a single disease which involves additional specialists and other doctors. Isn’t that a wasteful and bizarre system after all?
In the US, nurses and primary doctors charge higher prices for a wide range of services. Due to this, they earn significantly more in the US compared to other nations.
Healthcare in the United States is highly expensive and it as exactly double of any other developed country. Despite a lot of money spent on health care, the WHO (World Health Organization) has put our country on thirty-seventh position in healthcare systems. This is not the end as the US has occupied the last position among the top 11 industrialized countries in the overall efficiency of the healthcare system.
This is something terrible which we need to mull over and over and pressurize the central government for reforms.
Part of the reason healthcare is so expensive in the United States is because healthcare is mainly privatized in the country. The healthcare industry sets prices for prevention and treament of disease. The pharmzceutical industry sets prices for drugs.
The pharmaceutical industry and healthcare industry have enornous economic and political power in the United States. They use this power to advocate for few regulations related to cost for consumers.
Well, there are many answers to this question. I would like to share what I have learned about it, so it might differ from what other people say. Take a look at some of the reasons I’ve found-
According to the Harvard economist David Cutler, the administrative costs of the healthcare system in the U.S.A. are relatively higher than other countries.
The second reason is that the cost of medical drugs is too high. In most of the countries, the government negotiates with drug makers for drug prices. However, in the United States, it doesn’t apply as most U.S.A drugs are manufactured domestically.
The medical representatives of the US tend to go for a mix of expensive treatments and it becomes really expensive when compared with other countries. This is also a major reason for making the US healthcare system so expensive.
Most of the Americans likely pay more for pharmaceuticals. They don’t negotiate for discounted rates for the medicines(even I don’t negotiate).
The expensiveness of U.S. healthcare is one of the major reasons that people have so much debt. It might increase the GDP of our country but it is making us poorer. It’s time to reform our healthcare system.