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Market Focus: Healthcare in the United States
[Name of the Writer]
[Name of the Institution]
Market Focus: Healthcare in the United States
Introduction
Healthcare is the largest industry in the United States consist of nursing homes, physicians, dentists, hospitals, and laboratories. Healthcare industry takes the largest share of total GDP where government providing facilities through two programs that are Medicare and Medicaid. The U.S is the nation that spends more than any other developed nation in the healthcare industry still ranked in 27th place for best health care level. The main purpose of this paper is to analyze structure, and challenges of the healthcare industry to understand intervention that the government needs for improvement.
Discussion
Healthcare is the largest industry consist of about nineteen million employees, 5,600 hospitals with more than nine lacs beds. In 2014 total spending was recorded as 3 trillion dollars which increased to 3.65 trillion in 2018. 59% of total spending goes to physicians, hospitals and clinical services. During 2017-18 spending per person increased to 4.5%. Level of economic increase causing difficulty for the citizens to acquire medical care ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"6R7GtvV1","properties":{"formattedCitation":"(\\uc0\\u8220{}Backgrounder: Making Sense of the U.S. Health Care System: A Primer \\uc0\\u8211{} Evidence Network,\\uc0\\u8221{} n.d.)","plainCitation":"(“Backgrounder: Making Sense of the U.S. Health Care System: A Primer – Evidence Network,” n.d.)","noteIndex":0},"citationItems":[{"id":1058,"uris":["http://zotero.org/users/local/mlRB1JqV/items/IG35TN54"],"uri":["http://zotero.org/users/local/mlRB1JqV/items/IG35TN54"],"itemData":{"id":1058,"type":"webpage","title":"Backgrounder: Making Sense of the U.S. Health Care System: A Primer – Evidence Network","URL":"https://evidencenetwork.ca/backgrounder-making-sense-of-the-u-s-health-care-system-a-primer-2/","accessed":{"date-parts":[["2019",9,5]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (“Backgrounder: Making Sense of the U.S. Health Care System: A Primer – Evidence Network,” n.d.).
The healthcare system of U.S consists of both public and private-funded combination of programs and fragmented systems. Health insurance is the main element of the system that covers insured Americans both privately and publically. President Obama implemented the Affordable Care Act for the citizens in 2010. Children's health insurance programs, Medicaid and Medicare cover only thirty percent of the population. Besides, this structure is also depends on private payers who are not insured, or come under the umbrella of health insurance and free healthcare facilities. In 2013 U.S spending was 16.45% of GDP in healthcare as compared to the second-largest spending nation Switzerland and Netherlands with 11.1% of GDP. Still, Switzerland is the best country for its political, economic stability, and the healthcare system. On the other hand, the U.S is constantly moving down in healthcare ranking. This indicates that the increase in spending by cutting down the shares of other industries cannot improve healthcare level ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"1MHNRSio","properties":{"formattedCitation":"(School, 2017)","plainCitation":"(School, 2017)","noteIndex":0},"citationItems":[{"id":1061,"uris":["http://zotero.org/users/local/mlRB1JqV/items/W3PJMJDD"],"uri":["http://zotero.org/users/local/mlRB1JqV/items/W3PJMJDD"],"itemData":{"id":1061,"type":"webpage","title":"The U.S. Healthcare System: Structure and Strategies","container-title":"Courses at Columbia Business School","URL":"https://www8.gsb.columbia.edu/courses/mba/2017/fall/b8823-001","title-short":"The U.S. Healthcare System","language":"en","author":[{"family":"School","given":"Columbia Business"}],"issued":{"date-parts":[["2017",6,19]]},"accessed":{"date-parts":[["2019",9,5]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (School, 2017).
Some unique challenges that healthcare presents from a consumer standpoint include unskilled labor and payment model. For instance, with the latest innovation, new machines and equipment are provided to the healthcare organization, however, not every physicians and nurse can use them effectively. In addition, advancement in IT and online payment, billing or emailing are the things consumers are not used to. They face difficulty to cooperate with organizations through new technology ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"hNqRwu5G","properties":{"formattedCitation":"(\\uc0\\u8220{}The U.S. Health Care System,\\uc0\\u8221{} n.d.)","plainCitation":"(“The U.S. Health Care System,” n.d.)","noteIndex":0},"citationItems":[{"id":1064,"uris":["http://zotero.org/users/local/mlRB1JqV/items/383VLMZI"],"uri":["http://zotero.org/users/local/mlRB1JqV/items/383VLMZI"],"itemData":{"id":1064,"type":"webpage","title":"The U.S. Health Care System: An International Perspective","container-title":"DPEAFLCIO","URL":"https://dpeaflcio.org/programs-publications/issue-fact-sheets/the-u-s-health-care-system-an-international-perspective/","title-short":"The U.S. Health Care System","language":"en-US","accessed":{"date-parts":[["2019",9,5]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (“The U.S. Health Care System,” n.d.). Besides the increase in healthcare cost and consumer challenges, the government is trying to improve healthcare level through numbers of strategies and interventions. In 2011, the National Strategy for Quality Improvement in Health Care was created to improve the quality of healthcare. In addition, the government is promoting effective treatment and preventions along with better communication with the patient and their families ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"L3Avo3cO","properties":{"formattedCitation":"(\\uc0\\u8220{}How does the quality of the U.S. healthcare system compare to other countries?,\\uc0\\u8221{} n.d.)","plainCitation":"(“How does the quality of the U.S. healthcare system compare to other countries?,” n.d.)","noteIndex":0},"citationItems":[{"id":1060,"uris":["http://zotero.org/users/local/mlRB1JqV/items/ICQLIGI8"],"uri":["http://zotero.org/users/local/mlRB1JqV/items/ICQLIGI8"],"itemData":{"id":1060,"type":"post-weblog","title":"How does the quality of the U.S. healthcare system compare to other countries?","container-title":"Peterson-Kaiser Health System Tracker","abstract":"This collection of charts and a related brief explore a number of different metrics used to look at health outcomes, quality of care, and access to services. Inconsistent or unavailable data and imperfect metrics make it difficult to firmly judge system-wide health quality in the U.S., but a review of the data we do have …","URL":"https://www.healthsystemtracker.org/chart-collection/quality-u-s-healthcare-system-compare-countries/","language":"en-US","accessed":{"date-parts":[["2019",9,5]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (“How does the quality of the U.S. healthcare system compare to other countries?,” n.d.).
Singapore model depends on the minor proportion of government spending and the remaining are paid by the employers. This model can be useful for the U.S because it will help to reduce the large spending from GDP. Besides, it will result in equal distribution of facilities to the whole population as the current model is beneficial for specific people while remaining are still uninsured.
Conclusion
Healthcare is the largest industry in the U.S where the government spends highest share of GDP. U.S healthcare structure depends on the numbers of programs and fragmented system. It consists of Medicare, Medicaid, the Affordable Care Act, and various other programs. However, the nation still ranks in 27th place in healthcare level. Increase in healthcare cost making difficult for the people to acquire healthcare facilities. The government requires effective policies and strategies to improve the healthcare level rather than increasing the total spending.
References
ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Backgrounder: Making Sense of the U.S. Health Care System: A Primer – Evidence Network. (n.d.). Retrieved September 5, 2019, from https://evidencenetwork.ca/backgrounder-making-sense-of-the-u-s-health-care-system-a-primer-2/
How does the quality of the U.S. healthcare system compare to other countries? (n.d.). Retrieved September 5, 2019, from Peterson-Kaiser Health System Tracker website: https://www.healthsystemtracker.org/chart-collection/quality-u-s-healthcare-system-compare-countries/
School, C. B. (2017, June 19). The U.S. Healthcare System: Structure and Strategies. Retrieved September 5, 2019, from Courses at Columbia Business School website: https://www8.gsb.columbia.edu/courses/mba/2017/fall/b8823-001
The U.S. Health Care System: An International Perspective. (n.d.). Retrieved September 5, 2019, from DPEAFLCIO website: https://dpeaflcio.org/programs-publications/issue-fact-sheets/the-u-s-health-care-system-an-international-perspective/
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