By Dusan Goljic, project manager and medical writer, HealthCareers
Many believe that the US healthcare gives its users what they pay for since it’s famously known as the most expensive healthcare system in the developed world. Unfortunately, coronavirus statistics have revealed how inadequate the healthcare system in the US is and how much money revolves around it.
The Pandemic Exposes Costs
Gloomy facts about healthcare costs in the US became even scarier for the US residents when the pandemic knocked on their doors. It’s almost unbelievable to think that $2.16 billion was spent on hospital care and medical professionals.
If we take into consideration that the money doesn’t come from the rising demand for healthcare services and larger employability, but derives from high costs of services, it’s no wonder that the coronavirus brought America’s healthcare to its knees.
The Root of the Problem
America runs on private health insurance sponsored by various companies, while the government helps those without private insurance via programs, such as Medicare and Medicaid. What’s more, healthcare providers are continuously raising rates for their services. Final result? Coronavirus treatment can cost up to $34,927.
Furthermore, heart disease and diabetes are the most common diseases in the States. These two diseases account for 85% of all costs in American healthcare as they are time-consuming, difficult, and expensive to treat on a day to day basis.
Another quiet killer of the healthcare budget is the administrative costs. For every ten physicians, approximately seven administrative workers are required for proper billing. Out of every dollar spent in the United States on healthcare, an estimated 30% goes to expensive administrative overhead.
Is there a positive side to this story? If high costs ultimately led to better healthcare in the United States, it would definitely be worth it, especially if the novel coronavirus pandemic continues.
According to the Health System Tracker, the United States seems to be far behind the other countries, even though its citizens pay larger sums for healthcare services. This is especially simple to observe when we take into consideration the average life expectancy, obesity rates in people aged 15 and above, infant mortality rates per 1,000 births, and cancer deaths.
As if it weren’t enough for the US healthcare to be costly, coronavirus tested the limits of both healthcare providers and consumers. And even though some people advocate the consistent rise in the American healthcare spendings for the sake of the nation’s health and economic improvement, the country has to go back to the drawing board, at least when it comes to matters of health insurance coverage.
If you want to know more about healthcare in the US, take a look at this infographic.
Infographic URL: https://healthcareers.co/