Question

why is us health care so costly? why have almost all past cost controls faild? what are the best ways to contai. health care costs, and how can we do so without harming access or quality?

Answer 1

US health care system is most expensive in the world. Over $3 trillion is spent on health care system in USA which forms close to 16 % of GDP. while OECD countries spend 8 % of GDP on health care system. Following are reasons rising health care cost in USA:

• Rising Administrative and staffing costs.
• High Pricing of Drugs in USA by Pharma Companies.
• Use of defensive medicines by doctors to evade the chances of being sued.
• High and strict wage and other rules that lead to the high cost of health care.
• Use of modern and sophisticated technologies also inflates health care cost.

Past controls over the health care cost were not comprehensive and decisions were influenced by the pharma companies. Further, government rules and norms were not sufficiently relaxed to reduce the cost.

Following steps can be taken to reduce the cost:

• Encouraging young and healthy population to go for insurance coverage. It will reduce premium and thereby cost of health care would go down.
• Both Democrats and Republicans must support legislation alike to control the drug prices.
• Government must promote Telemedicines to reduce cost of health care.
• Government can deploy well trained nurses and physicians assistant to reduce the health care cost. well trained nurses and physicians assistant would not compromise quality of health care.
• Billing system should be simplified.