Jul 29
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Health care spending in the United States reached $2.4 trillion in 2008 representing ~17% of GDP and is projected to pass $3.0 trillion by 2012. Health care system is plagued with inefficiencies, administrative expenses, high prices, poor management, and inappropriate care, fraud and finally waste. One kind of waste id underutilization of doctor practices which companies like DocAsap are trying to target.
Some key statistics we found at the National Coalation of healthcare
- Health care spending is projected to reach $4.3 trillion by 2016
- Health care spending is 4.3 times the amount spent on national defense
- In 2008, the United States will spend 17 percent of its gross domestic product (GDP) on health care. It is projected that the percentage will reach 20 percent by 2017.
- Although nearly 46 million Americans are uninsured, the United States spends more on health care than other industrialized nations, and those countries provide health insurance to all their citizens.
- Health care spending accounted for 10.9 percent of the GDP in Switzerland, 10.7 percent in Germany, 9.7 percent in Canada and 9.5 percent in France, according to the Organization for Economic Cooperation and Development.
But where is all that money going. Found this interesting/informative video on youtube.
Health care spending in the United States reached $2.4 trillion in 2008 representing ~17% of GDP and is projected to pass $3.0 trillion by 2012. Health care system is plagued with inefficiencies, administrative expenses, high prices, poor management, and inappropriate care, fraud and finally waste. One kind of waste is under utilization of doctor practices which companies like DocAsap are trying to target.
Some key statistics we found at the National Coalation on healthcare
- Health care spending is projected to reach $4.3 trillion by 2016
- Health care spending is 4.3 times the amount spent on national defense
- In 2008, the United States will spend 17 percent of its gross domestic product (GDP) on health care. It is projected that the percentage will reach 20 percent by 2017.
- 46 million Americans are uninsured, but the US spends more then those countries providing health insurance to all their citizens.
- Health care spending in other countries – 10.9 percent of the GDP in Switzerland, 10.7 percent in Germany, 9.7 percent in Canada and 9.5 percent in France
But where is all that money going. Found this interesting/informative video on YouTube.
Left out the over abundance of specialty doctors and how most are paid by how many procedures they perform. If doctors wield the pen, why do they do it so differently from one place to another? Physicians pursue the maximum possible amount of testing and procedures! Video try to make it sound like its us the patents. lol wonder WHY? $$$ Physicians who see their practice primarily as a revenue stream. They instruct their secretary to have patients who call with follow-up questions schedule an appointment, because insurers don’t pay for phone calls, only office visits. They consider providing Botox injections for cash. They take a Doppler ultrasound course, buy a machine, and start doing their patients’ scans themselves, so that the insurance payments go to them rather than to the hospital. As economists have often pointed out, we pay doctors for quantity, not quality!!!