Efforts at Containing Costs in Health Care

Efforts at containing cost in health care
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Total expenditure
The health care costs in the United States are seen to have a drastic escalation in the recent times though the rate of the expenditure growth is having slowed in the recent times. The increase in the health care cost is noticeable as we compare the national health expenditure totals from past years to date. The criteria show that in the year 1970, the total national health expenditure was seventy-four point nine billion dollars that were equivalent to seven point two percent of Gross Domestic Product (GDP). Besides, the health care finance in the US is seen as the highest expenditure for the citizen. Although an individual spending huge sum of money, the quality of the health care services remains to be low in some of the critical measures in the health care sector (Daivadanam 2012).
Based on the most recent figures that are found from the Centers for Medicare and Medicaid Services (CMS), as of the year 2011 the health care expenditure costs have ballooned to more than two point seven trillion dollars that account for the approximately eighteen percent of the GDP. However, using the Institute of Medicine (IOM) report it is estimated that almost thirty percent of the health care expenditure costs or seven hundred and sixty-five billion dollars are attributable to wasteful spending in poor care delivery.
Excessive administration costs, fraud, and, unnecessarily high prices in the health sector also attributed to the increase of the health care expenditure to be too high in the United States. Therefore, amidst rapidly escalating expenditure prices has impacted the annual growth rate of the cost to slow down within the United States in the recent times (Mejhert et al., 2013).
Ways of curbing the expenditure cost
The cracking down on the fraud and abuse can help greatly in reducing the costs of the health care units within the US. As the law will enforce the agencies that crack down harder on the illegal drugs, organiz...