Question

compare healthcare cost in the US with any other that of other countries. What are the advantages and disadvantages of the various healthcare system?

Answer 1

First of all lets understand the concept of healthcare cost in US.

NHEA known as  National Health Expenditure Accounts are the official estimates of total health care spending in the United States. The role of NHEA is to measure annual U.S. expenditures for health care goods and services, public health activities, government administration, the net cost of health insurance, and investment related to health care.

Now we shall look at the differences in healthcare cost in US vis-a-vis India

1. Scenario of public health

As far as India is concerned it lags far behind developed nations in the public health area, with clean drinking water, adequate nutrition, sanitation and access to healthcare being continuing to post challenges.

The picture is far good  in the US, where per person healthcare expenditure is the highest in the world. Successive governments have consistently taken steps to improve healthcare reforms.

2. Vast difference in spending as a % of Gross domestic product

While In India the total expenditure on healthcare as a percentage of Gross domestic product is just 4%, while in the US it is 17%. According to the reports of World Health Organization (WHO) it has been found that US ranks 37, while India stands at 112 in the list of best performing nations in the healthcare sector. While it can be seen that the US can still improve and learn more from the top performing nations, India still has a long way to go.

3. Majority of the pocket expenditure spent on medical expenditure

A significant 70% of the Indian population pays for medical expenditures. This led to strengthening of  the financial mechanism of the insurance sector. While in the US, the out of the pocket expenditure is much lower at 10-12%.

4. Health insurance is compulsory in the US, unlike India where it is not compulsory

While in the US, it is compulsory to get health insurance and if you do not get health insurance you have to pay a penalty for the same. As per the Govt guidelines in the US employers are mandatory to take health insurance for their employees. None of the above conditions holds true in India, where the provision or purchase of health insurance is up to the discretion of employers or individuals.

Advantages and disadvantages of the various healthcare systems are as follows:

1. The most important advantage of health care is the value in monetary terms. A person can save a lot of time and money with a proper health care system in place. Now how can we conclude this fact. The answer is simple if one would take care of his health he does not have to go again and again to the doctor and in this way one can solve a lot of time and money of his own.

2. The second important and main advantage of health care is that person comes to know the importance and value of health. By increasing focus towards the health a person becomes more knowledgeable on how to maintain a perfect health.

Now comes the disadvantages of healthcare systems

1. A person completely ignores the importance of doctors and physicians by applying for the health care plan. A person thinks that his health care plan is perfect and he does not need any assistance of a doctor

2. The second disadvantage of health care is that in order to save the money person ignores to visit to the doctor until the problem gets out of control. Person is unaware of the fact that doctors recommend certain medications for his condition like allergies or other infections.