Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Impact of Cost of Health Care on the US Economy - Assignment Example

Comments (0) Cite this document
The author examines the impacts of cost and the rate of growth in health care spending, in the United States, which have increased significantly. The increase has been to extents of outpacing the growth rate in population, inflation, and gross domestic product. …
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER95.6% of users find it useful
Impact of Cost of Health Care on the US Economy
Read Text Preview

Extract of sample "Impact of Cost of Health Care on the US Economy"

Download file to see previous pages A look into the year 2005, expenditure on health care was about $2 trillion or $6,697 per capita, which correspond to 16% of the GDP. The continued rise in health spending over the last four decades is going to go higher, and the expenditure will reach $4trillion, which is 20% of the GDP, by the year 2015. For many years, the continued increase in health care expenditure has been the center of heated debate in the US for many years. Research work and anecdotal reports influence further concerns. This points out that the rise in health care expenditure is likely to harm the US economy. Expenditures on health care have the potential to affect an economy in a number of diverse and complex ways. In addition, the emerging effects may vary across all sectors of an economy as well as across population groups. One notable impact of increased expenditure on health care is the decline in general economic growth. However, the same effect has the potential to boost economic growth in some sectors of an economy. Therefore, gaining an understanding of how increased expenditure on health care affects the economy requires evaluation through various dimensions (Eaton et al, 2002). The state, Federal, and the local governments have the duty to collect taxes from households and business premises. The tax collections help to finance public health insurance programs as well as providing direct health care to households. On the other hand, businesses are responsible for providing employment to households and health insurance to their employees. Therefore, the households emerge as the final consumers of the health care and at the same time bear some costs on health care (Eaton et al, 2002). It is worth noting that the impacts of health care on a single sector are likely to affect results from other sectors. An example is a situation where the government reduces its expenditure on health care by reducing the eligibility for public health insurance. This action by the government leads to an increase in un-insurance rates among households.  ...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
(Impact of Cost of Health Care on the US Economy Assignment, n.d.)
Impact of Cost of Health Care on the US Economy Assignment. Retrieved from
(Impact of Cost of Health Care on the US Economy Assignment)
Impact of Cost of Health Care on the US Economy Assignment.
“Impact of Cost of Health Care on the US Economy Assignment”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Impact of Cost of Health Care on the US Economy

Health Care Cost and Quality

Health care quality is said to be judged subjectively, according to the standards of an individual or an organization. Donabedian (n.d.) identified three determinants of the overall quality of health care: structure of care, referring to the qualifications of health care providers and characteristics of facilities; the process of care or the manner health care is provided; and outcome of care, or effectiveness of the care provided. It is contended that without the existence of these three, it is not possible to achieve a high quality of health care.

In health care, cost and quality possess a certain relationship, where cost does not always equate to quality. Considerably, O’Kane presents that “what higher spen...
7 Pages (1750 words) Essay

Comparison between US health care and health care in Italy

...Running head: Comparison Between US Health Care and Health Care in Italy Comparison between US Health Care and Health Care in Italy In APA Format Abstract United States of America and Italy are two very different countries; the major differences are in culture of the people living in these countries. There are major differences in how doctors in these countries deal with pain management. This paper will throw light upon how the doctors in these countries deal with pain management, the main focus of this paper will be upon the pain management process during child birth in these countries. The process of child birth is the most beautiful process and thoroughly enjoyed...
2 Pages (500 words) Essay

Health care cost

.... An example of this is the expense involved in magnetic resonance imaging, which increases the diagnostic costs significantly, where it is employed as a diagnostic aid. Some treatments may be more cost effective, and lead to less discomfort in patients, but it is these very same beneficial qualities that cause its higher rate of use, leading to increase in costs. Thus new technology is the main culprit in the escaltion of health care costs. Does that mean denying the use of new technology in health care is the solution to the vexing problem of escalating healthcare costs. The answer is no. For in doing so the benefits of advances in science and technology would be denied to the people. The solution rather lies in the judicious use...
2 Pages (500 words) Essay

US-Health Care Reform

... extend to family members. This practice, alone, saved three major insurance companies more than $300 million over the last five years. At least one company was found to have used rescission as a performance base evaluator for employees. (Sheshami, 2010) Americans currently make up approximately 18% of the GDP in purchasing health care; more than any other country in the world. Yet, our life expectancy is not the highest, nor is our overall health. We spend a lot of money on low-value, high-cost treatments, often bypassing lower cost, higher value treatments. There is a large variation in the quality of health care patients receive, with many procedures not being done in the most cost effective setting. The system we have is complex...
6 Pages (1500 words) Essay

Cost of Health Care

Topic: Metal Illness Introduction Mental disorders are diseases are types of medical conditions which require close medical attention. However, people suffering from this kind of illness are often abandoned to deal with their conditions themselves. It is evident that a mentally disturbed person cannot take care of his or her own condition as most of the patients with this medical condition are vulnerable due to their actions. People with mental disabilities are prone to engaging in actions that my lead to them being hurt or far much worse encounters.
Schizophrenia is a type of mental illness that requires close medical attention. Patients suffering from this illness were in the past thought to be demonic posed thus they were hi...
1 Pages (250 words) Assignment

Health Care Cost

...Health Care Cost al Affiliation) Health Care Cost Employers have the capa to control healthcare expenses through incentives, which inspires workers to work hard and act properly keeping them away from destructive work practices such as idleness. Health savings accounts allow workers to use their cash, offering them a pause to reflect on how they can get their healthcare, the most lucrative way. Employers can offer spousal coverage by paying a fraction of the premium and put their partners and kids on their plan. Employers can put smokers on a coverage plan, which eradicates smoking throughout working hours, helps workers in attempts to stop, and teaches them that being nonsmokers has the aptitude to decrease the smoking populace (Wyman...
1 Pages (250 words) Essay

US health care

... Care Act. The New York Times , p. 26. Jill Bernstein, D. C. (2010). How Does Insurance Coverage Improve Health Outcomes? Mathematica policy reserch , 1-10. Kavilanz, P. (2012, July 12). 6 reasons health care costs keep going up. Retrieved May 16, 2014, from CNN Money: Sherry Murphy, J. X. (2013). Deaths: Final Data for 2010. Washington: U.S. Department of Health and Human services. Starfield, D. B. (2000). Is US Health Really the Best in the World? Journal of the American Medical Association , 482-488....
3 Pages (750 words) Essay

True Cost of Health Care

Most people will invest their time in taking care and investing in their health through eating healthy, exercises and seeking regular health checkups. Time equates the money that is, as a result, of trade and its interactions.
Culture affects the quality of health care, which is a paramount measure. The impact of trade and choice reveals itself here as these two variables bring health in an ‘equilibrium state. Quality exchange is majorly placed on the capacity of a group basis rather than on an individual basis hence delivery of proper service to prolong one's life in terms of good surgery, well-trained doctors, and medication.
The factor of research, technology, and innovation has greatly affected the overhead cos...
1 Pages (250 words) Essay

Cost Benefit Analysis and US Health Care

... operate based on such a health philosophy in the context of mounting health care expenses. Conclusion From the above discussion it is clear that comparative effectiveness analysis and comparative cost-effectiveness analysis are the two major approaches used by Reinhardt in his article. In addition, evaluation models like cost benefit analysis and cost effectiveness analysis can better assist health policymakers to make well informed health decisions and set comprehensive health policies that can benefit the audience in the long term. References Guo, J. J., Wade, T. J., Pan, W & Keller, K. N. (Sept 2010). School-Based Health Centers: Cost–Benefit Analysis and Impact on Health Care Disparities. Am J Public Health. 100(9): 1617–1623...
5 Pages (1250 words) Research Paper

Health Care and the Economy

The fact brought out indicates that, even though, the unemployment numbers decrease, as ironical as it may sound, many people still lack jobs and in collaboration with that, people are unable to sustain themselves in health coverage matters. It is with no doubt that the health care sector is slowly declining because of recession, and this has not only made the medical coverage of many individuals to be at stake but has also driven many people to withdraw from vital medical insurance services, to save money for other uses.
Inflation has become a major issue that is facing the American society especially when it comes to the prices of medicine. In News article done by Rosenthal (2014), states that there has been a significant in...
4 Pages (1000 words) Essay

The Economic Impact of the Emergence of China and India

The main macroeconomic variable that toys in the global economy’s shift are the emergence of India and China as new superpowers. This emergence certainly has a number of implications, but among the most relevant are: disruption of the equilibrium of the global economy which results in rising demand of goods, giving way to worldwide inflation; the attractiveness of outsourcing to these countries due to low cost but high talent workforce of these countries for cheaper operations.
The growing middle class of China and India results in booming demand for the automobile industry. This increase in demand, with the increasing purchasing power of these countries’ people, is not limited to automobiles but more apparent in...
10 Pages (2500 words) Assignment

Chilled Vehicles and Special Care of Products

Hiring another company or the third party to man the operations of the fleet of vehicles can put the company down. That would be like dealing with new employees who are not really working for the company, and who do not know our products. It will also be tantamount to revealing the secrets of our products and company that we have treasured all through the years. The best option is to work on the fleet of vehicles and get the right people to handle the operations. 
There are doubts as to the exact number of vehicles we have to purchase since these are all plans and some hypotheses. But we tried to scale down our output, made some estimates and inside surveys, and come out to some numbers, which were reached by calculating...
8 Pages (2000 words) Assignment

Decision Making in Health and Social Care

Consumer sovereignty principle illustrates the fact that in a free market economy the consumer is free to consume what he wants. However, the consumer’s sovereignty does not have meaning if he/she is unable to buy what he/she wants. This paradox is solved through government intervention in the provision of those merit goods such as health care and education. On the other hand, agency theory indicates that conflicts between principals (e.g. shareholders or owners) and agents (e.g. managers) occur as a result of the latter misrepresenting facts and misinterpreting information so that resources can be diverted to uses which they regard as more lucrative. Since principals cannot themselves carry out the task of managing the busi...
8 Pages (2000 words) Case Study

The Relationship Between Security, Risk and Health in a Large Organisation

... when a firm’s strategic plan needs to be developed. When dealing with these issues, managers in modern organizations tend to use appropriately customized policies – in accordance with their firms’ needs and the resources (employees, funds, technology) available. Current paper focuses on the examination of the various aspects of security, risk, health and safety within large organizations; Particular emphasis is paid on the fact that the demands of each one of these factors may be differentiated under the pressure of the market conditions and the organizational priorities. The case of Shell in Nigeria has been used as an example in order to show the potential co-existence and interaction of these factors within a specific organizational...
9 Pages (2250 words) Coursework

Forensic Mental Health

In contemporary society, we do have a moral obligation to treat everyone who enters the criminal justice system fairly. However, there are two aspects of this argument that seem to be developing. On the other hand, someone who does not have control of themselves because of mental illness may need to be seen differently than what has been set for "normal" criminals. The literature points in both directions and this can be a difficult call when people are actually entering the system.

In the current literature, the current criminal justice system has specific ideas of what should be done when an individual commits a crime. As an example, Carvan (1999) poses a question in a case study that is pertinent to the shit study. I...
10 Pages (2500 words) Coursework

Health Benefits of Meditation

The techniques of yoga have been demonstrated to be effective in maintaining a healthy balance between the body and the mind. As such, yoga corrects any defects in the human body (Javnbakht, Kenari and Ghasemi 102).

There are four types of yoga, namely Bhakti yoga, Karma Yoga, Gyana yoga, and Ashtanga yoga. However, all these varieties of yoga aim to provide individuals with the ability to manage and develop the health of the body and the mind. Yoga diminishes stress and its associated disorders. Several studies in this area, have suggested that yoga is an efficient system to address stress-related disorders (Javnbakht, Kenari and Ghasemi 102).

The practice of Asanas has an interrelated effect on the various...
10 Pages (2500 words) Thesis

Effect of Corporations Moving Jobs Overseas on the Economy

The issue comes into focus, whenever there are political, economic debates or talks about H1B visa limits. The economic slowdown has further led to the intensification of these debates. But, despite apprehensions from different quarters, neither the companies nor the government has said a final word on the trend. Increasing levels of competition amongst the corporate houses have been one of the key highlights of the globalization era. Be it the retail sector, the banking, the automobile, the IT-enabled services, the white goods space, etc. the companies have always been on the lookout for reaching out to more number of customers while doing everything possible to please the existing lot. Leveraging the economies of scale has prove...
8 Pages (2000 words) Coursework

Lack of Health Insurance for the Mentally Ill

Worse, because the family sometimes cannot afford to cover their medical expenses, these mentally ill patients end up with no medical care at all; they are forced to suffer the debilitating symptoms of their mental illness and to be subjected to worsening mental and general health conditions.
This paper shall discuss the lack of insurance among mentally ill patients. It shall first describe the mental health issue and the student’s position on such an issue. This paper shall also explain why this position is important and the relevance of the position to nursing practice, the mentally ill, and society. The rationale of this position shall be clearly explained and two factors that contribute to this issue shall be identi...
8 Pages (2000 words) Assignment

Immigration and Its Impact on the United Kingdom

For example, for farming communities, fertile and well-watered land has been a pull factor in migration. Business opportunities and political stability are also examples of pull factors.
Since the turn of the 20th century, Great Britain and Northern Ireland have experienced a great influx of foreigners migrating into the country due to pull or push factors. There have been different waves of migrations to the United Kingdom, which has had different impacts. Because of this, the United Kingdom has had to respond in several ways, which includes coming up with new acts on immigration, nationality, and providing asylum to refugees.1 However, the topic of migration to the United Kingdom has attracted different political views and...
23 Pages (5750 words) Assignment

Real Cost of Capital

Also, other academics criticize the models' failure to incorporate other determinants of risks such as firm size, book-to-market ratio, etc. then the plain correlation of the risk of the assets to the market. Despite these criticisms, many practitioners in the corporate world still use CAPM for capital budgeting. These issues are probed in this paper.
CAPM or the capital asset pricing model has been a tool in modern finance that has been extensively used for capital budgeting. The capital asset pricing model is useful in estimating the required return on an equity stock of a company (Perold 2004). Under the principle of finance that rational investors will require higher returns to compensate them when they undertake projects...
8 Pages (2000 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Impact of Cost of Health Care on the US Economy for FREE!

Contact Us