Identify and describe three causes for the increasing costs of health care. what impact does each of these causes have on society?
1. Our aging population has more health needs than younger people.
2. We're saving a lot more seriously ill people.
3. New treatments are generally very expensive.
4. Doctor's offices and hospitals have greatly expanded and cost more to maintain.
5. Additional clerical help is necessary to process the many different forms and health care claims.
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Three major causes or reasons why health-care costs keep rising or increasing are:
1) Pharmaceutical Expenses.
2) High malpractice premiums brought on by a litigious society that wants to sabotage doctors.
3) Health insurance costs.
Each of the causes of increasing cost of health-care mentioned above has a very serious impact on society. Take pharmaceutical expenses, for example pharmaceuticals comprise the fastest growing portion of health-care budgets in the private sector and government. The main cost drivers include changing product mix and increasing use. Underlying factors include research, development, and promotion costs, including direct-to-consumer advertising. By requiring limited cost sharing for prescription drug benefits, insurers are shielding consumers, creating an incentive for increased demand.
High malpractice lawsuits are not helping society to improve the economy either. When doctors are forced to pay clients millions of dollars to settle a lawsuit, of course, the doctor’s malpractice insurance premium will increase and the doctor will have no choice but to increase the cost of services that is provided in his, or her practice. Now there are situations where medical negligence has happened and the doctor needs to be held accountable, but people get greedy and ask for a very big settlement.
Many national surveys and research show that the primary reason people are uninsured is the high cost of health insurance coverage. Some people are facing serious problems on how to pay off medical bills as they are so expensive. Others continue to put off going for medical visits or procedures because they cannot afford the high cost of medical care. A recent study found that 50 % of all bankruptcy filings were partly the result of medical expenses. Every 30 seconds in the United States someone files for bankruptcy in the aftermath of a serious health problem.
Three causes for the increasing costs of health care include:
1. Technological advancements: With ongoing advancements in medical technology and treatments, the costs associated with these innovations also increase. New technologies and pharmaceuticals often come with hefty research and development expenses, production costs, and patent protections. While these advancements improve health outcomes and patient care, they contribute to rising healthcare costs. The impact of this cause on society is that it puts a strain on healthcare budgets, leading to higher healthcare premiums and out-of-pocket expenses for individuals and businesses, which can be burdensome.
2. Aging population: As the population ages, there is an increased demand for healthcare services and facilities. Older adults tend to require more frequent and specialized medical care, including managing chronic conditions, rehabilitation, and long-term care. This leads to increased healthcare utilization and higher costs. The impact of an aging population on society is that it puts pressure on healthcare systems and resources, requiring additional funding and workforce to meet the growing demand.
3. Administrative costs and bureaucracy: The complex administrative structures and processes in healthcare contribute to the rising costs. The need to navigate insurance systems, billing and coding procedures, and regulatory compliance requires a significant amount of administrative time and resources. This administrative burden adds unnecessary costs to the healthcare system. The impact of administrative costs on society includes increased healthcare premiums and financial barriers to accessing care, as a portion of the healthcare budget goes towards administrative expenses rather than direct patient care.
Overall, the increasing costs of healthcare have a profound impact on society. Higher healthcare costs strain individuals' ability to afford necessary care, potentially leading to delayed or inadequate treatment. Employers and businesses face higher healthcare premiums, reducing their ability to invest in other areas. Governments and public health programs struggle to allocate sufficient resources to meet the growing healthcare demands of the population. Therefore, the burden of increasing healthcare costs affects both individuals and society as a whole.