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In other words, the U.S. would have to cut healthcare costs by roughly one-third ($1 trillion or $3,000 per person on average) to be competitive with the next most expensive country. Healthcare spending in the U.S. was distributed as follows in 2014: Hospital care 32%; physician and clinical services 20%; prescription drugs 10%; and all other ...
Health care cost as percent of GDP (total economy of a nation). [2] [3] Graph below is life expectancy versus healthcare spending of rich OECD countries. US average of $10,447 in 2018. [7] See: list of countries by life expectancy.
U.S. healthcare costs are considerably higher than other countries as a share of GDP, among other measures. According to the OECD, U.S. healthcare costs in 2015 were 16.9% GDP, over 5% GDP higher than the next most expensive OECD country. [4] A gap of 5% GDP represents $1 trillion, about $3,000 per person relative to the next most expensive ...
Americans are spending more on health care today than at any time in nearly 4 decades. An estimated 15 to 30 percent of health care spending is on administrative services, according to one ...
Incredible Health analyzed the increasing costs of medical care and its contributing factors, referencing Bureau of Labor Statistics data. Medical care costs are up 30% in the past decade—here's ...
A new report from the Commonwealth Fund found that health insurance premiums and deductibles for Americans with employer-sponsored coverage accounted for 11.6% of median income in 2020, a whopping ...
This graph depicts gross U.S. health care spending from 1960 to 2008. In 2002, automotive companies claimed that the universal system in Canada saved labour costs. [155] In 2004, healthcare cost General Motors $5.8 billion, and increased to $7 billion. [156]
With health care spending averaging $13,493 spent per person annually, many Americans are feeling the pinch more than ever. Despite high costs, patients often leave their appointments dissatisfied.