How To Decrease Spending In Healthcare

America’s debt is growing indefinitely, more so if things like the increased budget spending on healthcare is not resolved. (See Table 2 United States Healthcare Spending.) Statistics from Centers for Medicare and Medicaid Services says that Healthcare spending will reach to around $5 trillion dollars by year 2021.15 There are a few things that we can improve on and in turn might decrease the spending on healthcare. First thing we can do is changing how doctors get paid by bundled payments rather than how many services they do. This method would cover all medical needs that was diagnosed, removing incentives for doctors and hospitals to order more treatments just to get more money.16 This will decrease spending on healthcare because it’ll in turn have less treatments to pay for. …show more content…
Copayment can also be adjusted based off income, though it’ll cause controversy it’ll help the economy increase in strength. Another way is price transparency between every hospital services throughout the country. Right now, cost for hospital services vary between regions or hospitals, having a single market price for an operation or service will give more of a direct idea of how the federal budget can be spent.18 This’ll will also stop doctors from charging people that are wealthier more money than usual. Lastly, measuring out the cost and outcome of every patient can help with budgeting. Measuring outcome can better meet a patient’s needs thus lowering healthcare costs.19 Determining value of care can be measured by the medical condition and understanding the resources needed for the patient.19 All these solutions will help lessen the spending on healthcare and will increase economic and health growth throughout the United