The United States cost of healthcare has many factors when
it comes to cost. The major US healthcare cost drivers distributed in several
different categories listed here are a few reasons:
Provider costs: physician service consumed 21
percent of total healthcare expenditure
Hospital costs: cost rise in US is a combination
of price and quantity because of increasing inpatient, outpatient and emergency
Technology costs: medical technology spending
comprised about 20 percent of the growth in healthcare costs and now exceeds
$200 billion annually.
Insurance costs: In recent years, the US shifted
into an ownership society away from a welfare society.
Kumar, S. Ghildayal, N. S., &
Shah, R. N. (2011
Medications from pharmaceutical companies are priced at high
prices and all taxpayers are affected by these prices. Insurance for healthcare is also another factor
that comes with high premiums. Though research it shows that the United States has
the most expensive healthcare system in the world.
The Canadian health care system is focused around that all
their citizens will receive medically necessary and hospital physician
services. Canada run a statewide health insurance program, and there is no
cost-sharing for health care services under that countries federal law. Canadas
supplementary benefits like dental, and coverage for medications is not
included in hospital and doctor services. The citizens of Canada must have
private or supplemental insurance policies or their employer plan will cover
Canadas healthcare system is publicly financed and their
physicians are paid by their government at a negotiated fee-for service rate,
and the physicians are paid less than US physicians. The U.S. and Canadian
health care systems is totally different when it comes to cost. Canada is a single-payer and mostly
publicly-funded system and the U.S. is a multi-payer, with an abundance of different
programs. I agree that the United States
health care system cost is very expensive, but looking at insurance in Canada
you might pay less, but the needs of the patient lacks quality.