Discussion week 6 - Assignment Example

Factor Driving Up the Cost of Health Care Essay 26th Sep, According to a research has d that currently healthcare contributes to 18% of the total GDP spending and is expected to rise to 20% in the coming years (Appleby, 2014). There are many reasons contributing to this factor including increase in compensations paid to doctors, population is growing old and fatter, there are new drugs and technologies and services in the market, hospitals are demanding more prices and there is a supply and demand problem.

The report shows that present there is almost 23% of population over the age of 65 as compared to the working age population which is expected to increase to 37% by 2020, and the hospitals are gaining market share making a monopoly to increase prices they charge to customers. The demand and supply issues in the market create legal and standard issues, doctors malfunction on patients because of unavailability of required medicines. As a nurse the most critical reason is the new drugs and technologies that are being introduced in the market.

There are too many innovations in medical industry and it becomes difficult to cope up with new information. Every day there is a new discovery; doctors are continuously making researches in the field. Although if looked at it otherwise, it is better for the patients who face with diseases that have no remedies. However, as a leader of the nursing community I will motivate my staff to learn the news ways in medicine to apply them on the patient. In the same amount of staff members I will conduct training sessions to ensure that they are well aware about the new treatment and have full knowledge of its implementation.

This would reduce the cost of the hospitals and the same nursing staff would be updated with the new information. ReferencesAppleby, J. (2014). Seven Factors Driving Up Your Health Care Costs. Retrieved 2014, from PBS News Hour: http://www.pbs.org/newshour/rundown/seven-factors-driving-your-health-care-costs/Group, M. I. (2014). A Look at contributing factors to Rising Health Care Cost. Retrieved 2014, from McGrawth Insurance Group: http://www.mcgrathinsurance.com/node/46