“The U.S. spends more per capita on health care than any other developed nation. It will soon spend close to 20% of its GDP on health” – We’ve shifted from spending on health services to spending on health insurance, and the problem is the insurance company and healthcare providers don’t disclose pricing for services, procedures, or medications and costs are rising faster than inflation.
From The Wall Street Journal:
“The U.S. spends more per capita on health care than any other developed nation. It will soon spend close to 20% of its GDP on health—significantly more than the percentage spent by major Organization for Economic Cooperation and Development nations.
What is driving costs so high? As this series of charts shows, Americans aren’t buying more health care overall than other countries. But what they are buying is increasingly expensive. Among the reasons is the troubling fact that few people in health care, from consumers to doctors…“