The Health Care Of Healthcare - 1339 Words

Healthcare is a widely talked about issue in today’s society. After all, a factor of whether or not we vote for a presidential nominee is whether or not they support free healthcare, or have an effective healthcare reform. Out of thirty-three developed nations, thirty-two have universal health care, with the United States being the exception. A big question has been why does this nation’s healthcare cost so much, but the American people are not seeing their investment go to effective use. In healthcare economics, there are three medical stools: cost, access, and quality. The concept of the three medical stool is, they has to be a tradeoff. For example, if the United States would to improve the cost of health insurance, so everyone could†¦show more content†¦Either the employee or employer is paying for the expensive premium and this means less money for the companies. Less money for companies leads less funding to increase employee’s wages to accommodate these rising cost. Another question arises is where does our money go? According to Investopedia, Americans dollars goes towards six contributors: administrative cost, drug cost, defensive medicine, expensive mix of treatment, wages and work rules, and branding. Administrative costs is the biggest factor contributing to the high cost of healthcare, which takes up a quarter of the expenses. Drug cost is another major difference between America and other developed nations. It’s no secret that prescription drug cost is unreasonably priced in the United States. Congress created Medicare Part D, which denies Medicare the right to negotiate drug prices, unlike other nations where the government can negotiate for lower prices. For example, Medicare Part D allows for CEO’s like Martin Shkreli founder of Turing Pharmaceuticals, to raise up the price for Daraprim, a drug that treats a life-threatening parasitic infection, from thirteen dollars and fifty cents to seven hundred and fifty dollars a pill. Another contributor is the practice of defensive medicine. Defensive medicine is the practice of doctors performing multiple tests to prevent getting sued, even if they may know what the diagnosis