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Cost And Transparency Issue Of Healthcare

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University of Texas Arlington
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Student's Name Institutional Affiliation Introduction ❖ Quality healthcare facilitates: • Disease management • Reduces mortality rates • Prevents unnecessary disabilities • Increases patient satisfaction ❖ Cost and transparency issues have created healthcare access problems in the global population. Healthcare Costs ❖ Continuous increase in healthcare costs. ❖ Healthcare costs are rising at a higher rate than the overall economic growth rate. ❖ Federal government funds allocation on healthcare in 2018: 16.9% of the GDP. Affordability Problems ❖ The increasing cost has reduced citizen’s access to quality healthcare services. ❖ Insured (20%) and uninsured (50%) citizens experience challenges in clearing their medical debt. ❖ People with affordability problems: Financially unstable (14.5%) and low socioeconomic category (40%). ❖ The trend has created challenges in managing prevalent chronic conditions. Disease Prevalence by Income (2011) Transparency Issue ❖ The transparency problem limit citizen’s access to quality healthcare services. ❖ Lack transparency in pricing, medical procedures, and general information dissemination. ❖ For instance, the hip replacement cost in Ft. Collins- Loveland, Colorado is $55,413 compared to $16,399 in Montgomery. Transparency Issue ❖ Transparency deficiency: Limited patient- provider interaction. ❖ Busy schedules and short appointment durations. ❖ Absence of patients decision-aids, ...
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