Healthcare Industry essay

The table below summaries the national healthcare expenditure by major source of funding from 1960 to 2010;

Source of fund/year

1960

1970

1980

1990

2000

2010

Out-patient pocket

13,051

25,015

58,396

138,643

201,725

305,551

Health insurance

7,464

31,688

142,155

439,458

920,393

1873866

Private health insurance

5,779

15,424

69,047

234,230

459,233

859,624

Medicare

0

7,672

37,387

110,182

224,829

520158

Medicaid

0

5,290

26,032

73,661

200,483

398116

The graphs above indicate that the source of fundings for national health care has been on the rise since 1960 t0 2010. Medicaid has recorded the lowest growth, while health insurance has recorded the highest growth from 1960 to 1960. Additionally, the graph indicates that out-patient pocket, Medicare and private health insurance has also recorded tremendous growth over the years.

Changes in national health expenditure can be attributed to political, social, health and economic factors over the period under review. Firstly, the increase in source of funding for public healthcare, private health insurance, Medicare and Medicaid can be attributed to political changes within the country. The governments, both at the federal and state level has changed its policies towards funding health care services by allocating more funds in health care provision. Additionally, laws have been passed making it mandatory for the old and employers to insure their employees, thereby contributing to the rise in the funding for health care in the nation. On the other hand, social changes whereby, the increase in the number of senior citizens as well as people with disabilities has also contributed to increased funding in the national heath care system. Economic and health factors have also been part of the changes noted in the health care funding trends from 1960 to 2010. The cost of healthcare has been on the rise due to rise in a number of chronic diseases, such as cancer, diabetes and others.

In conclusion, the cost of healthcare provision can be reduced, by developing technologies that will help in making cheaper to cure various illnesses facing the American population.

Reference

  1. http://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/NationalHealthExpendData/NationalHealthAccountsHistorical.html

Healthcare Industry essay

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