A study performed by CNN in 2009 indicated that upwards of 60 percent of all bankruptcy in the United States was due to medical bills. As a resident of the United States, it comes with little surprise that the cost associated with health care and medical bills can become enormous depending upon the severity of injury or illness. In addition, due to the unforeseen nature of many medical issues, those who are suffering from illness or ailments are usually unprepared to spend the amount of money required for medication, surgery, or any other associated health care cost.
According to recent research from the National Institute of Health, health care costs in the United States account for 16 percent of the nation’s gross domestic product (GDP), which is more than any other industrialized country in the world. In fact, the rate at which health care spending has continued to grow in the last several years is faster than that of inflation and the increase in the national income. Clearly, medical costs are a serious problem for many Americans throughout the nation.
From health care providers, employers, patients, and employees, the state of medical costs in the United States has become a growing problem that significantly affects the majority of individuals across the country. The state of medicals costs in Georgia is similar to that of America as a whole. Georgia residents have continued to see rises in health care costs in terms of insurance, prescription medications, and surgeries.
Trends in Medical Costs
Multiple studies indicate the growth of medical costs surpassing that of the growth of national income in the United States. As more and more information becomes readily available, it has become clear that trends in medical costs continue to shift upward, demonstrating a projected continuance in the rise of costs. Recent trends have showed an unfortunate transfer of high medical costs from employers to their employees. However, government officials are beginning to recognize that moving this burden to the workforce creates a serious problem.
Another trend in rising medical costs has been linked to the differences between the price of medical care given and the actual outcome health improvement and/or life expectancy. Unfortunately, studies have found that medical care given often neglects to directly connect to health improvements. Unnecessary procedures are a substantial cause of rising costs.
Rising Medical Costs
Medical costs have continued to rise for a number of reasons. Technology is one of the biggest factors related to this rising trend. While many health care professionals will advocate for the use of technology to improve the procedures using better medical devices, opponents argue that these technologies are being misused. The costs associated with the majority of health care technologies are enormous. While new technologies most certainly help to cure diseases, treat patients, and better administer surgeries, much debate circles whether or not the costs should be controlled.
In addition to medical technology, insurance is another major factor of high medical costs. Health insurance has continued to improve in the United States. However, as these improvements continue to take place, coverage is expanded. The expanded coverage helps to provide for those making large insurance claims; nevertheless, this also may explain health care spending increases.
Contact a Savannah Medical Malpractice Attorney
When patients in Georgia enter a hospital or doctor’s office, they expect that they will be treated with the highest level of care possible. Patients must put their trust in medical professionals in order to treat illness, ailments, and other health related issues. Unfortunately, however, medical errors occur at a rapid rate in the United States, as well as in the state of Georgia. While these errors of rarely intentional, medical malpractice must not be tolerated.