Negating Economic Fatalism in U.S. Health Expenditure
posted by David W. Johnson on October 28, 2014
Found in US, categorized in Healthcare
Inefficient health expenditure is not America's destiny.
Government experts just published 2013-2023 projections for U.S. national health expenditure. After five years below 4%, CMS forecasts roughly 6.0% annualized growth resulting in whopping healthcare expenditures totaling $5.2 trillion in 2023, representing 19.3 percent of GDP.
These projections embody an economic fatalism that insists healthcare expenditures will always consume a greater percentage of the U.S. economy. Inefficient health expenditure is not our destiny. The government’s analysis neglects a fundamental shift in healthcare supply-demand relationships driven by market demands for more productivity, transparency and value.