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April 02, 2020 | Farah Jassawalla

Healthcare dynamics in USA-is it expensive?

To answer this question with a simple yes or a no is entirely too difficult. There are issues and concerns relevant to the high cost of medical care that needs to be addressed before replying to that question. Different studies have declared the American healthcare to be the most expensive in the world as compared to the cost of similar processes in other countries. This includes the pharmaceutical industry and the prices of medicines as well.

The US is no doubt the wealthiest country in the whole world, and it holds all the major industries working to make a living. These industries include the biopharmaceutical industry as well. Innovations are happening every day, and with the new advancements, the technology that the US has is beyond anything else in the world. This calls for huge prices for services and procedures.

American citizens are covered by insurance from private companies who are more than willing to negotiate on their customer's behalf to bring down the prices, but the costs remain high. They even vary from location to location. One test has different charges, through-out the whole of the USA. The question that comes up is why is it happening so. What's never discussed openly is the fact that there's no check and balance on the price trends. Cura4u is a great way of receiving authentic info about healthcare services and targets both doctors as well as patients.

One way to resolve this is to make a definite plan and decide on the national level as to how much an average American is willing to pay in terms of the insurance. Right now, the insurance policies everywhere state that there will be payments made at the end of every year, depending on how much and how long the service is used.

The healthcare industry is unable to make any changes to this because there are a lot of finances stuck in this. Healthcare providers will not allow such changes because this 3.5$ trillion industry can't survive, and politics won't allow for that either.

Admin expenditures

There are high administrative costs that include the finances to run the healthcare system as well as the payments to medical staff. More employees are recruited every year to run only the billing of a health institute.

Pharmacy expenditures

The cost of drugs is relevantly higher than in other countries. This happens because Medicare is not allowed to negotiate with the drug makers. They charge unbelievable prices and give reasons such as that with less money; the research will get affected.

Fearful of getting sued

Due to the conditions in the US Medical Insurance bill, doctors are incredibly wary of directly telling the patients of their medical condition. They keep ordering unnecessary tests to rule out problems when they have already concluded/diagnosis.

Overpaid specialists

There's no check on the fees of physicians, and that adds to the total increased cost of healthcare. Specialists try to get maximum benefits and reimbursements. Patients going through even a bit of adversity cannot get checked by a specialized physician.

Brand focused

You instigate a name for yourself in the market, and you can demand whatever price you want. This is now happening in healthcare institutions as well. If you have realized what your customers need, you are now set to name whatever your price is.

The government in any country is solely responsible for keeping a check on the price control options. They can negotiate with the pharmaceutical industry for cheaper solutions and lower the cost of medical care that includes hospital expenditures as well as the cost of processes and procedures. Consult your GP today and get huge benefits through online consultation and lab tests/imaging.

Farah Jassawalla

Farah Jassawalla is a graduate of the Lahore School of Economics. She is also a writer, and a healthcare enthusiast, having closely observed case studies while working with Lahore's thriving general physicians at their clinics.

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