Health Care Cost

Health Care Cost

Health Care Cost.

Health Care Cost: More than a sixth of the United States economy is dedicated to health care expenditure and that fraction continues to escalate every year. Unfortunately, the system does not provide value proportionate to the projected $2.7 trillion expended yearly on health care.

Professionals agree that a projecte 20% to 30% of that expenditure (which is estimated to be $800 billion yearly) goes to redundant, wasteful, or inefficient care (Sadeghi, 2013).

One of the major contributing factor to this is, lack information on quality and prices transparency. A majority of the state laws permits hospitals and other health care providers to keep the prices of healthcare secret

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Whereas there is no easy formula for depressing the escalation in health care prices. Stakeholders have long identified that there are numerous areas where mutual ground may be found.

As a nursing leader, to solve this problem, I would propose the strategy of tackling barriers to transparency. Action should be taken to eradicate barriers that avert interested parties from knowing how the market is or is not working.

Improved transparency with a simultaneous focus on quality may lead to greater consciousness of the particular market dynamic and provide purchasers and consumers with a better sight line into the motivations behind the increasing costs of health care in their society in addition to a comprehension of the effect of dynamics for instance, provider consolidation.

References

Mason, D. J., Leavitt, J. K., & Chaffee, M. W. (2014). Policy and politics in nursing and   health care.

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