How Much Is Spent On Health Care In The United States Annually

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Healthcare in the United States
The increasing healthcare costs in the United States have been a serious concern to the general public for the recent years. Healthcare costs include both prices paid to the providers or for drugs and the number of services used. Although there is limited data on the services and drugs, the higher prices explain the high spending on the healthcare in the United States relative to comparable countries. According to the recent estimates, the United States of America is believed to be spending $2.9 trillion which represents about 18% of the GDP. Every person in the US is believed to be spending about $9,255 annually in healthcare costs. The primary concern for the rising costs is whether they translate to improved healthcare outcomes and patient care (Papanicolas, Liana, and Ashish).
The United States’ healthcare system is a complex trillion-dollar industry which includes thousands of hospitals, specialized care facilities, managed care organizations, web-based and IT supported service organizations, independent practices and partnerships as well as the major manufacturers. When all of the above components are combined, they provide healthcare services to the Americans. The healthcare expenditures are financed by a mixture of public players such as Federal, State and Local governments. Moreover, private insurance organizations and individual payments finance this system. There are two largest public health insurance programs in the country and they differ in the manner in which they are administered and funded. They include Medicare and Medicaid. The Medicare program is controlled by the federal government and covers seniors and other groups. Medicaid is controlled by both federal and state governments. Overall, healthcare provision in the US is privately controlled and is a decentralized sector with most provid...