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The American Healthcare Sector - Essay Example

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The paper "The American Healthcare Sector" highlights that fewer companies are offering health benefits forcing individuals to look for coverage in the highly unregulated private market. This has affected Americans’ productive capacity as well as the country’s fiscal health. …
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The American Healthcare Sector
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The importance of the healthcare sector in any country cannot be gainsaid as far as safeguarding the health of the nation is concerned. It is noteworthy that the condition of the American healthcare system is not desirable. There have been numerous calls for comprehensive reforms to be incorporated in the healthcare sector. This is not the initial time the calls for reforms have been made. They have, however, been unsuccessful thanks to opposition from the insurance industry lobbyists and conservatives, who insinuated that the reforms would socialize medicine. These efforts have thwarted efforts to attain affordable, effective and accessible healthcare for Americans.
In the last fifteen years, the cost of American healthcare has increased by more than two times with the yearly growth rate being over double that of inflation. The costs have become a burden to the federal government, businesses, as well as families. Employers have had to cut back on their expenditure on healthcare so as to remain competitive against international companies that do not have such costs. While there are varied reasons for the rising costs, the increase is attributable to the excess costs of the country’s healthcare system and the underlying inefficiencies.
In addition, the number of people who do not have sufficient insurance coverage or even any coverage at all has been increasing. It is noteworthy that the uninsured end up getting healthcare in an extremely costly way, thereby increasing the premiums of those with medical insurance. Unfortunately, this has not translated into quality healthcare or improved outcomes. These aspects underline the importance of pushing forward with the reforms. Read More
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