Economic And Healthcare Reform Throughout Recent History Essay

1429 Words Sep 4th, 2014 6 Pages
America is in the midst of some of the most challenging periods of economic and healthcare reform in recent history. These issues demand that we establish new methods of reducing healthcare costs, improve the efficiency of care delivery and strive for an ever-increasing level of positive outcomes. The Federal government is in a unique position, due to its lead role in both healthcare spending and regulation. The Centers for Medicare and Medicaid Services (CMS) is the country’s largest healthcare patron accounting for 35 percent of all national healthcare spending in 2009. CMS has estimated that healthcare spending in the United States will increase by an average of 5.8 percent per year through 2020.1 These escalating costs will place even greater financial burdens on the American economy and individual households. Additionally, data suggests that almost 20 percent of the country’s gross domestic product (GDP) will be comprised of healthcare spending alone.2 The demand for new innovations in healthcare has never been higher. The Federal government participates in medical research through its funding of the National Institutes of Health, the Department of Defense, the Health and Human Service’s Biomedical Advanced Research and Development Authority (BARDA), the Centers for Disease Control and Prevention (CDC) and the Food and Drug Administration (FDA), among others. It is time now for public and private sectors to join forces and seek new methodology that will intensify…

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