Medical Spending

In the article, The Value of Medical Spending in the United States, 1960–2000, it talks about how in the United States, there is an increase in the use of medical therapies and that has been leading to a major rise in peoples healthcare and medical cost. In the article they compared the gains in life expectancy and then looked at the increased cost of care from the beginning of 1960 all the way through 2000. They compared the rise in life expectancy with lifetime cost of healthcare or medical care in the same given year. In the study they made four separate groups based on the time era studied, those are 1960, 1970, 1980 and 200, they made the assumption that close to 50 percent of the gains were due to medical care. In 1960 to 2000, they found …show more content…
First the cost of healthcare is so high that it doesn't give everyone an opportunity to purchase the healthcare or insurance that is needed. This can be huge problem for someone with health issues, it wouldn’t allow them to get the care they needed or be able to purchase the drugs that are need since the drugs are so high now. If the cost of healthcare would shrink, more people would be able to afford it and if more people can afford healthcare and purchase the proper insurance, peoples money wouldn’t be going towards those who don’t have healthcare and overall bring the price down. I think the best way to get rid of the staggering cost in the United States healthcare system is the look at the price of medication. Most of the medication prices in controlled by the ones who make it or also known as big pharmacy's. Since they control the patent for their drug they can regulate the prices, which are usually very high. If the government implemented laws that got rid of pharmaceutical companies that were for profit or took over the pricing of medication to make it fair so more people could afford it, then I believe healthcare and insurance companies wouldn’t charge as much and more people would get insurance and leading everyone to get equal healthcare in the United States making the countries healthier as