Economic Issues in the Healthcare System
Introduction
Health economics is involved with issues that are related to competence, impact, value, and actions in the production and consumption of health and healthcare. Economic issues in the healthcare system are the challenges that the system is facing in terms of finance. It is an issue because while healthcare managers want to offer affordable and quality services, the costs of healthcare are rising rapidly.
The economic issues that are affecting and changing the healthcare system include increased costs, poor or stagnant quality of services, inadequate medical practitioners, insurance covers, information technology, and e-health. Because of how expensive healthcare is, not everyone can afford it. Because of this, the healthcare costs affect both individual finances and the economy of the country Institute of Medicine (2003). Inadequate medical practitioners make accessibility to healthcare difficult because the more available they are the easier they are accessed. When the cost of healthcare rises, employers tend to reduce their costs by reducing the coverage and escalating the load to the employee. These economic issues make it difficult and people are not able to access healthcare.
The Healthcare system in the United States, Germany, and Canada differ when it comes to finances, payment structures, and the role of the government. The United States has the highest GDP per capita and also the highest spending per capita in healthcare followed by Germany and lastly Canada Ridic, Gleason & Ridic (2012). Advanced technology in the United States makes the healthcare system more powerful compared to the rest of the countries. Data shows that the Canadian and German systems are seen to be more effective than the United States due to low costs and more services offered. In both countries, there are no financial obstacles and the health status is higher.
Conclusion
Economic issues in the healthcare system are characterized by the challenges that the system faces while trying to give the best services. These challenges have an impact on people’s finances and the country’s economy. In terms of finances and expenditures, different countries differ in how they spend and get finances. Comparisons between the United States, Canada and Germany has shown that the United States has the highest expenditures in healthcare.
References
Institute of Medicine (US) Committee on the Health Professions Education Summit; Greiner AC,
Knebel E, editors. Health Professions Education: A Bridge to Quality. Washington (DC):
National Academies Press (US); 2003. Chapter 2, Challenges Facing the Health System
and Implications for Educational Reform. Available from:
https://www.ncbi.nlm.nih.gov/books/NBK221522/
Ridic, G., Gleason, S., & Ridic, O. (2012). Comparisons of health care systems in the United
States, Germany and Canada. Materia socio-medica, 24(2), 112–120.
