The Expense of Healthcare
The expense of healthcare is rapidly rising due to a variety of factors, some of which can be prevented. One of the reasons for increased healthcare costs is knowledge asymmetry (Rushefsky and Mark, 2013). Patients have insufficient information of health care, making logical decisions about the best medical care difficult. Some patients will opt for an expensive intervention even if the outcome appears to be unsuccessful. Another factor contributing to the high cost of medical care is that physicians are paid based on the number of tasks they complete rather than the effectiveness of the intervention (Rushefsky and Mark, 2013). Furthermore, the healthcare system is adopting new drugs and technologies which are costly to purchase and maintain (Rushefsky and Mark, 2013). Rising cost of healthcare is a threat to the economy of the US because affordable and accessible health care improves citizen's quality of health which in turn results to a productive state. Therefore, commendable solutions should be channeled to sustain the cost of rising health care.
Possible Solutions
Regarding information asymmetry, education and awareness programs should be conducted to the public to prevent physicians from making inappropriate and expensive decisions regarding their medical stake. Although this strategy may encourage more lawsuits on the part of the hospital administration and its health workers, its impact on reducing health care costs will be significant. Even though new technologies and drugs improve health outcomes, they incur enormous costs on the health system (Rushefsky and Mark, 2013). The health care system should be monitored to see if the doctors are recommending new technologies and drugs based on priority to prevent the unnecessary purchase of the items. Moreover, in case the hospitals are to buy new technological equipment, it should be done from a reputable manufacturer. Health care providers should be constant rather than reward them according to the amount of work to streamline the costs incurred during health care delivery. However, this recommendation may bring with it resistance and organizational politics among healthcare workers resulting in an aggravated workforce.
References
Rushefsky, Mark E. 2013. Public Policy in the United States. Florence:Taylor and Francis. Accessed September 12, 2017. ProQuest EBook Central
