The world bank has U.S. health expenditures increasing as a percentage of GDP from 13.2% in 1995 to 17.1% 2014. The percentage of that which reflects government spending in the healthcare sector was 9.4% in 2012 (under 'Perspectives' change 'Total' to 'Public' here and then look for the United States in the graph and hover your mouse over the bar).
It's driven by demand, not materially affected yet by the slowly forming negative consequences of our rapidly escalating national debt, etc...
However, the present rapid rate of demand will eventually level off and diminish following the decline of the baby boomers and the negative consequences of present U.S. policies will eventually manifest materially impacting sectors that rely heavily on government spending (unless desirable reforms are implemented).
Bottom line: Healthcare is a bubble that you can ride for the next twenty to thirty years.
US health care is far more costly per capita than other developed nations, we get middling results, and we still don't cover everyone. As long as we keep relying on "for-profit" providers, this won't change.
50 hospitals charge uninsured more than 10 times cost of care, study finds - The Washington PostFifty hospitals in the United States are charging uninsured consumers more than 10 times the actual cost of patient care, according to research published Monday.
All but one of the facilities are owned by for-profit entities and the largest number of hospitals — 20 — are in Florida. For the most part, researchers said, the hospitals with the highest markups are not in pricey neighborhoods or big cities, where the market might explain the higher prices.
Ah yes, the "magic of the marketplace."
Last edited by jpn; 06-09-15 at 10:35 PM.
National employment: +3.4%
National increase in the mean wage: +1.7% per year
Health Professions: +9.1%
Increase in the mean wage for health professions: +1.8% per year
* - includes technical support personnel, among others.
Increase in the mean wage for physicians: +1.8% per year
There has also been an ongoing long-term trend in which the number of surgeons has been declining. That trend commenced in 2004. It has slowed in recent years, but it likely represents the retirement of Baby Boom surgeons far more than policy changes. Indeed, the rate has slowed over the past 5 years with a slight increase in the past year. The growing demand in surgical procedures driven by the aging of the nation's population coupled with the past decline in the number of surgeons has probably contributed to at least some share of the rapid growth in health care openings. The BLS projects that openings in the surgeons field will grow much faster than the national average over the next 10 years.
Last edited by donsutherland1; 06-10-15 at 09:08 AM.
Think of it this way. The doctor says you should have treatment worth $ 150.000 but can get something less pleasant, a little more painful and with less saticefactory results for $ 15.ooo. Some people will go for the less expensive, if they are not insured.