UNITED STATES HEALTHCARE SYSTEM
The U.S health care system is the largest in the world. The total cost of running the system in more $2.5 annually and over $20,000 annually for a four member family. Running of the U.S health care system relies on these factors:
The U.S. Health Care System Health insurance
Americans access health insurance by buying their policies or through the contribution by employers. Insurance coverage pays for some of the medical expenses by policy holders, but there are always complaining about the high cost. Some Americans did not have an instance at all. It is the issues that the former administration was addressing by introducing Affordable Care Act fondly called Obamacare, legislation that allowed everyone to have insurance. President Donald Trump has since scrapped it.
Americans have a choice of these different managed care plan insurance plan that coordinates financing /delivery oh health care services for enrolled members so as to provide care of highest possible quality at most affordable cost possible.
Managed care plans are of these three types:
Health maintenance organizations HMOs: Prepaid health insurance plans paying for health care within a particular network except for emergencies. A primary care physicians coordinate most of the care and choose a specialist if necessary.
Preferred provider organizations PPOs: Prepaid insurance that allows patients to visit any health provider they prefer but pay a higher amount for getting service from a provider who is not on their network. PPOs are expensive than HMOs but provide more flexibility to members.
Point of service plan: covers treatment by an HMO physician but still allows members to get treatment from other practitioners and receive partial coverage. It is a mixture of HMO and PPO whereby members can get most of the care from the limited HMO network.
Health Saving Account: A medical savings account for enrolled members of high-deductible health plans HDHPs. It allows people to set pre-tax income aside and deposit it in HSA to pay for expenses relating to health care. It is like a personal saving account that lets you own and control money buy for medical purpose.
The U.S. Health Care System medical cost
Cost of healthcare is an emotive issue in America as the cost of doctor consultations hospital admissions and surgeries is expensive than in many countries. Many people feel that cost is an s result of overpaying doctors, hospitals and gross overcharging for prescription drugs. No law places a maximum amount on the cost of medical service.
Another school of thought is that these factors contribute to high cost of medical expenses.
Training for healthcare professionals: Doctors and other medical practitioners go through extensive education and training to be the best. The cost of tuition and training activities is high.
Cost of drug manufacturing: Medicine in the market take millions of dollars to fund research, development, approval and market a single pill. Medicine for treating chronic conditions has the highest cost.
Equipment and technology: The cost of developing or nuking medical equipment and training doctors to use them is as high as manufacturing drugs. An ever aging population needs access to best equipment that promotes their well being hence stretching the cost of reduction and purchases.
The U.S. Health Care System Legislation
Acts governing the way healthcare systems run, and other matters that affect cost are dependent on legislation to a large extent. Market forces may have a role, but some legislation has a major effect. For example, there was a high number of Americans without any health insurance plan, but ACA sought to address the issue by increasing affordability for low-income earners and the age of members’ dependents. Repealing if the act means there will be a need for other legislations to cater for population targeted by Obamacare.
Healthcare providers lament that cost of lobbying healthcare laws is over $500 million compared to $317 million for oil/gas, defense and aerospace combined. Any interested party that funds the lobbying will recoup the money by increasing the cost of drugs, equipment or service to the consumers.
The quality of health The U.S. Health Care System is good, but Americans still want a way of lowering cost of medical service and transparency on the billing of services and insurance plans.