Future of Healthcare Research Paper

Pages: 2 (575 words)  ·  Bibliography Sources: 2  ·  File: .docx  ·  Topic: Healthcare

Healthcare Insurance -- Future Implications

Healthcare costs are growing in the United States at a rate that is completely unsustainable. Even by conservative estimates, healthcare costs will soon account for as much as forty percent of the American gross national product (Reid, 2009). Presently, Americans pay approximately $2.2 trillion in annual healthcare expenses. One major source of the problem is the dominance of a for-profit health insurance model that unnecessarily adds substantially to the cost of healthcare (Kennedy, 2006). In addition to direct additions to cost in the form of premium fees, administrative fees and service fees, this for-profit health insurance model also increases costs by virtue of excluding many individuals whose healthcare costs are eventually paid by various government programs funded by public monies. Among other fundamental changes such as a shift toward preventative medicine and results-based compensation for healthcare providers, a public Healthcare Insurance or so-called "single-payor" model is likely essential to reduce the rate of healthcare cost increases and, ultimately, to lower their costs (Kennedy, 2006; Reid, 2009).

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Research Paper on Future of Healthcare Assignment

Conservative critics of government healthcare programs typically argue that the Medicare and Medicaid programs are under-funded and notoriously inefficient (Kennedy, 2006). However, a direct comparison between the respective costs of private and public health insurance models reveals that even those supposedly "inefficient" public programs provide essentially the identical functions and services as private health insurance plans, except at approximately one-tenth the cost (Kennedy, 2006). Whereas both Medicare and Medicaid absorb only two or three percent of the total cost of healthcare services rendered in connection with their programs, private health insurance companies add approximately ten times that amount. That means that fully $750 billion of the total $2.2… [END OF PREVIEW] . . . READ MORE

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APA Style

Future of Healthcare.  (2011, June 4).  Retrieved November 29, 2020, from https://www.essaytown.com/subjects/paper/future-healthcare/421510

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"Future of Healthcare."  4 June 2011.  Web.  29 November 2020. <https://www.essaytown.com/subjects/paper/future-healthcare/421510>.

Chicago Style

"Future of Healthcare."  Essaytown.com.  June 4, 2011.  Accessed November 29, 2020.