Considering staggering expenditure on healthcare in the USA, evaluate the current healthcare system, and offer some areas of potential cost reduction.

Healthcare finance | Nursing homework help

The United States currently spends a staggering amount on healthcare each year. To put it into perspective, the US is spending nearly twice as much per capita on health care than other developed countries. This huge expenditure has led to many questions being raised about the efficiency of the US healthcare system and its ability to provide high quality care while still maintaining affordability.

In order to reduce costs and make healthcare more efficient, there are several potential areas of improvement that should be explored. One way to address rising costs is through transitioning from fee-for-service models to value-based models in order to incentivize providers for delivering better patient outcomes rather than simply performing an increasing number of procedures and tests. Additional cost reduction could also be achieved by reducing administrative costs through streamlining paperwork and computerizing record keeping systems as well as encouraging preventative health measures such as increased public education campaigns on healthy lifestyle habits and providing incentives for people who opt for preventive treatments or regular checkups instead of waiting until a medical issue arises. Finally, one potential solution would be introducing generic medications options at reduced prices in order to increase access and affordability of medication for those who need it most

Overall, while the total cost of healthcare may not decrease drastically overnight, there are several areas that can potentially reduce expenditure while still providing quality care with improved efficiency.