Reasons for Healthcare’s High Cost Essay

Exclusively available on IvyPanda Available only on IvyPanda

Introduction

Medicine is an integral part of the life of society since it is designed to support the health of the population. However, in the US, the health care system is one of the most expensive, which makes it difficult for ordinary citizens to access it. It should be noted that despite the objective reasons for this phenomenon, this is a serious problem for the state. It is necessary to identify five main reasons for the high cost of medicine in the United States, as well as determine how prices can be slowed down.

We will write a custom essay on your topic a custom Essay on Reasons for Healthcare’s High Cost
808 writers online

Discussion

The first problem with the high cost of the healthcare system is the prevalence of private hospitals and clinics. Even though they do the same as the state ones, they have their pricing. This is explained by the fact that private clinics are not funded, which means they must make a profit on their own (Tohid & Maibach, 2021). Together with the high cost of equipment and the maintenance of specialists, this leads to high prices for medical services in such organizations.

The second reason is the complexity and multi-stage nature of research and laboratories in the healthcare sector. To develop or improve existing technologies, organizations need to sponsor and create research that requires a large amount of technical equipment (Tohid & Maibach, 2021). Even though inflation in the United States is not the fastest, it is influenced by too many factors, which is typical for large states (Volger, 2018). As a result, firms spend large sums on the study of modern diseases and drugs. In order not to go into a crisis and not lose capital, companies are forced to raise prices for research products to recoup scientific costs.

The third reason is economic in nature but directly affects pricing. The fact is that inflation is a permanent phenomenon that occurs in the economy with constant periodicity (Tohid & Maibach, 2021). In order not to lose money and specialists, organizations must cover inflation in the form of higher salaries and prices for supporting clinics (Tohid & Maibach, 2021). At the same time, profits must grow so that the negative impact of inflation is not noticeable in this area.

The fourth reason is the high quality of the services provided. However, this positive effect is because specialists are highly qualified and competent professionals who are educated and take courses regularly. In addition, there are significant risks in the work of a doctor both for health and for the psycho-emotional state (Tohid & Maibach, 2021). To attract such specialists and compensate them for the costs of the profession, management is forced to raise salaries and improve working conditions (Tohid & Maibach, 2021). However, this affects the final cost, because high-level professionals cannot be motivated by low income.

Finally, the fifth reason for the high cost of medical services for the population is the complexity of diseases of citizens. In other words, the majority do not lead a healthy lifestyle and have bad habits and genetic predispositions (Tohid & Maibach, 2021). This leads to the fact that often the patient has a complex of diseases, only one of which shows symptoms at a particular moment. However, to restore health, complex treatment of several diseases at once is necessary (Tohid & Maibach, 2021). In turn, this leads to the summation of prices, which predetermines the high cost of treatment.

Conclusion

Nevertheless, the above aspects can be dealt with, but it should be a combination of measures. For example, the population needs to carefully monitor their way of life, and not allow the accumulation of a group of diseases (Tohid & Maibach, 2021). In turn, the state needs to control inflation in such a way that the salaries of citizens increase to cover this process (Tohid & Maibach, 2021). Finally, more public institutions should be opened to provide free treatment for simple and more common clinical cases.

1 hour!
The minimum time our certified writers need to deliver a 100% original paper

References

Tohid, H. & Maibach, H. (Eds.). (2021). International medical graduates in the United States. A complete guide to challenges and solutions. Springer International Publishing.

Vogler, S. (Ed.). (2018). Medicine price surveys, analyses and comparisons. Evidence and methodology guidance. Elsevier Science.

Print
Need an custom research paper on Reasons for Healthcare’s High Cost written from scratch by a professional specifically for you?
808 writers online
Cite This paper
Select a referencing style:

Reference

IvyPanda. (2023, October 5). Reasons for Healthcare’s High Cost. https://ivypanda.com/essays/reasons-for-healthcares-high-cost/

Work Cited

"Reasons for Healthcare’s High Cost." IvyPanda, 5 Oct. 2023, ivypanda.com/essays/reasons-for-healthcares-high-cost/.

References

IvyPanda. (2023) 'Reasons for Healthcare’s High Cost'. 5 October.

References

IvyPanda. 2023. "Reasons for Healthcare’s High Cost." October 5, 2023. https://ivypanda.com/essays/reasons-for-healthcares-high-cost/.

1. IvyPanda. "Reasons for Healthcare’s High Cost." October 5, 2023. https://ivypanda.com/essays/reasons-for-healthcares-high-cost/.


Bibliography


IvyPanda. "Reasons for Healthcare’s High Cost." October 5, 2023. https://ivypanda.com/essays/reasons-for-healthcares-high-cost/.

Powered by CiteTotal, free citation machine
If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda. Request the removal
More related papers
Updated:
Cite
Print
1 / 1