Healthcare spending in the United States is $3 trillion a year, straining the budgets of families, businesses and taxpayers alike.
The price of medical care is the single biggest factor behind healthcare costs. These expenditures reflect the cost of caring for those with chronic or long-term medical conditions, an aging population and the increased cost of new medicines, procedures and technologies.
The new health reform law also has expanded access to insurance to millions of Americans. We’ve transitioned to a healthcare system in which everyone can obtain health insurance regardless of age or health status, and many individuals who are newly insured need ongoing medical attention.
Though medical costs are the main reason for the persistent growth in healthcare spending, too much of this money is not well spent. In fact, studies indicate that 30 cents of every healthcare dollar goes to care that is ineffective or redundant.
We can all play a part in helping to make America healthier–and curb healthcare costs. Our healthcare system itself must focus more on quality care for patients that helps them get healthy faster and stay healthy longer.
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