Why Are American Health Care Costs So High Exploring The Factors

Why Are American Health Care Costs So High Exploring The Factors The high cost of medical care in the u.s. is one of the greatest challenges the country faces and it affects everything from the economy to individual behavior, according to an essay in the may june 2020 issue of harvard magazine written by david cutler, professor in the department of global health and population at harvard t.h. chan school of. The study confirmed that the u.s. has substantially higher spending, worse population health outcomes, and worse access to care than other wealthy countries. for example, in 2016, the u.s. spent 17.8 percent of its gross domestic product on health care, while other countries ranged from 9.6 percent (australia) to 12.4 percent (switzerland).

Why Are American Health Care Costs So High Exploring The Factors Prescription drugs. oecd health statistics data show the u.s. spends more than twice as much per capita annually on retail prescription drugs as the oecd12 average, $1,126 versus $536 per person. as u.s. retail drug spending is about 9 percent of nhe, cutting this spending in half would represent 4.5 percent of nhe, or approximately 10 percent. Prices on existing, branded drugs have increased substantially during the past decade, limiting affordability and access. 37,41,42 and even in circumstances where the benefits are unclear or. In comparison, national health expenditures totaled $27.2 billion in 1960, just 5% of gdp. that translates to an annual health care cost of $12,530 per person in 2020 versus roughly $150 per person in 1960. keep reading to learn more about health expenditures and how the affordable care act (aca) aimed to control costs. The cost of health care in the united states far exceeds that in other wealthy nations across the globe. in 2020, u.s. health care costs grew 9.7%, to $4.1 trillion, reaching about $12,530 per person. 1 at the same time, the united states lags far behind other high income countries when it comes to both access to care and some health care outcomes. 2 as a result, policymakers and health care.