Despite spending almost double most developed economies per person (as a percentage of GDP), America’s healthcare system continues to operate in shambles. Spending continues to grow, reaching a staggering $3.5 trillion in 2017. This amidst tens of millions of Americans remaining uninsured, and many more millions unable to afford needed care.
The American health system is a demonstrable demonstration of how a “free-market” health care program operates. It’s far more expensive for less coverage. Yet as a whole, America can’t seem to get a grip on a way forward. Many suffering from the ideology of anti-“socialism”, decrying any form of single payer system that would provide health coverage to all citizens. The same people are fine with trillions of dollars to the military, but struggle with “socialist” healthcare.
The trouble with this approach is quite simple, Americans pay the most, yet the receive staggeringly less health care than any other developed nation on the face of the planet.
The National Health Expenditure Accounts (NHEA) are the official estimates of total health care spending in the United States. Dating back to 1960, the NHEA measures annual U.S. expenditures for health care goods and services, public health activities, government administration, the net cost of health insurance, and investment related to health care. The data are presented by type of service, sources of funding, and type of sponsor.
U.S. health care spending grew 3.9 percent in 2017, reaching $3.5 trillion or $10,739 per person. As a share of the nation’s Gross Domestic Product, health spending accounted for 17.9 percent. See more at the source: https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/NationalHealthExpendData/NationalHealthAccountsHistorical.html