Important and pressing economic issue
select and research what you believe to be the most important and pressing economic issue that confronts the United States in the health care industry today, and potential ways in which to mitigate the issue. Consider the economic effects of the issue on the health care industry, strategies to address the issue, and best practices for implementing the strategies. You will write a paper to formulate strategies and the application of best practices from other countries based on your research to address a selected economic issue confronting the U.S. health care industry.
Instructions
Provide a review of the selected issue in a 4–5 page paper in which you:
Develop a detailed description of the selected issue and the research process conducted.
Analyze the most significant economic effects of the researched issue on the health care industry supported with least two examples of the economic effects.
Formulate specific strategies that relevant entities/stakeholders may use to address the selected issue from an economic perspective supported with a rationale for the strategy.
Sample Solution
In the past decade, the U.S. has taken measures to improve healthcare and the consumer experience. However, recent studies show that only seven percent of Americans are satisfied with the current healthcare system. The U.S. ranks highest in healthcare costs among comparable countries. Despite spending far more on healthcare than other high-income nations, the US scores poorly on many key health measures, including life expectancy, preventable hospital admissions, suicide, and maternal mortality. In 2018, U.S. firms and consumers spent 10% of GDP on healthcare – and this number has risen over the years. The Centers for Medicare & Medicaid Services (CMS) Office of the Actuary predicts that national healthcare spending in the US (avg. annual rate of 5.4%) is expected to outpace GDP growth.
