In today’s technological era, there is a high demand and need of healthcare policies that can provide major improvements in the quality of care. Health care is a continuous process, in which medical information is progressively accumulated; therefore there is a need of a systematic system that can track all the various health policies as well keep up with the innovative technology used in health system. Health care sectors may further even vary within a country, consisting of a small scaled private health care set up to a large public hospital setting. Additionally, in recent years there has been drastic shift in the basic definition of health, Johnson and Stoskopf (2010) defines health as "the state of physical, mental, and social well-being
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Furthermore cost sharing can be sub-divided into three forms: coinsurance, copayments, and extra billing (Curtis & Riva, 2010). Based on country-to-country, out-of-pocket (OOP) spending as well the rate of coinsurance and copayment varies by service such as inpatient care, dental, administration costs, and office visits. Based on Johnson and Stoskopf (2010), by 2020 the estimated healthcare spending will triple in real dollars, to 10 trillion, taking 21% of U.S. gross domestic product (GDP) and 16% GDP in developed nations such as United Kingdom, China, Japan, and Australia (p.45). Additionally, most Countries mainly differ considerably in the proportion of their health care spending done by the public versus the private sector. Furthermore, here is summary of GDP spent on healthcare in some of the developed nations: US spending $8,233 per capita (18% of GDP) is by far the highest while Singapore’s spending of $2,273 per capita (4% of GDP) is by far the lowest while Canada being $5,948 per capit a(11.6% of GDP), Germany $4,218(11.5% of GDP), and Japan $2,878 (9.3% of GDP) ( Davis, Schoen, & Stremikis, 2010). On the other hand, GDP spent on health care in 2010 among some of the underdeveloped countries is Angola (3.4%), Bangladesh (3.7%), Fiji (4.2%), and Haiti (6.7%) (Davis, Schoen, & Stremikis,
Furthermore cost sharing can be sub-divided into three forms: coinsurance, copayments, and extra billing (Curtis & Riva, 2010). Based on country-to-country, out-of-pocket (OOP) spending as well the rate of coinsurance and copayment varies by service such as inpatient care, dental, administration costs, and office visits. Based on Johnson and Stoskopf (2010), by 2020 the estimated healthcare spending will triple in real dollars, to 10 trillion, taking 21% of U.S. gross domestic product (GDP) and 16% GDP in developed nations such as United Kingdom, China, Japan, and Australia (p.45). Additionally, most Countries mainly differ considerably in the proportion of their health care spending done by the public versus the private sector. Furthermore, here is summary of GDP spent on healthcare in some of the developed nations: US spending $8,233 per capita (18% of GDP) is by far the highest while Singapore’s spending of $2,273 per capita (4% of GDP) is by far the lowest while Canada being $5,948 per capit a(11.6% of GDP), Germany $4,218(11.5% of GDP), and Japan $2,878 (9.3% of GDP) ( Davis, Schoen, & Stremikis, 2010). On the other hand, GDP spent on health care in 2010 among some of the underdeveloped countries is Angola (3.4%), Bangladesh (3.7%), Fiji (4.2%), and Haiti (6.7%) (Davis, Schoen, & Stremikis,