IPE 350 - Spring 2012 Costs of health care

IPE 350 - Spring 2012 Costs of health care - Costs of...

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Costs of Health Care Anthony Breitbach PhD, ATC IPE 350 Fall 2011
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Team Reflection Questions From Readings How much does the U.S. spend on health care? How has it changed and continues to change? How does health care spending vary among segments of the population? What are the factors that make up the cost of health care?
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“The Cost of Sickness” (1925) From the article “The Cost of Sickness”: “Expenditures for the services of physicians and nurses and for hospitals and medicines were estimated for 1921 by Mr. Moore of the Public Health Service as $1,400,000,000 or a per capita of $12.33”
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Gross Domestic Product (GDP) The total market value of all final goods and services produced in a country in a given year, equal to total consumer (CS), investment (IS) and government (GS) spending, plus the value of exports (E), minus the value of imports (I). GDP = (CS+IS+GS+E) – I SOURCE: http://www.investorwords.com/2240/Gross_Domestic_Product.html
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Key Facts (2008) In 2008, the U.S. spent $2.38 trillion on health care, which is 16.2 percent of GDP and $7,681 per person. Health care costs have grown on average 2.5 percentage points faster than U.S. gross domestic product since 1970. Almost half of health care spending is used to treat just 5% of the population.
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Key Facts (2008) Prescription drug spending is 10% of total health spending, but contributes to 14% of the growth in spending. While about 26% of the poor spent more than 10% of their income on health in 1996, the number increased to 33% by 2003. Many policy experts believe new technologies and the spread of existing ones account for a large portion of medical spending and its growth.
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How Much Does the U.S. Spend on Health Care? The U.S. spends over $7,681 per person on health care each year. 16.2% of the U.S. economy is devoted to health care. Health care spending is also consuming an increasing share of economic activity over time. Health care spending has exceeded economic growth in every recent decade.
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Domestic Product, 1960-2009 Source: Centers for Medicare and Medicaid Services, Office of the Actuary, National Health Statistics Group, at http://www.cms.hhs.gov/NationalHealthExpendData/ (see Historical; NHE summary including share of GDP, CY 1960-2009; file nhegdp09.zip). Dollars in Billions:
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This note was uploaded on 03/27/2012 for the course HEALTH 350 taught by Professor Cooper during the Spring '12 term at MO St. Louis.

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IPE 350 - Spring 2012 Costs of health care - Costs of...

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