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Compared to other OECD countries, U.S. healthcare costs are one-third higher or more relative to the size of the economy (GDP). [2] According to the CDC, during 2015, health expenditures per-person were nearly $10,000 on average, with total expenditures of $3.2 trillion or 17.8% of GDP. [3]
The Institute of Medicine reported in September 2012 that approximately $750B per year in U.S. health care costs are avoidable or wasted. This included: unnecessary services ($210 billion annually); inefficient delivery of care ($130 billion); excess administrative costs ($190 billion); inflated prices ($105 billion); prevention failures ($55 ...
Additionally, an analysis of changes in mortality post Medicaid expansion suggests that Medicaid saves lives at a relatively more cost effective rate of a societal cost of $327,000 to $867,000 (equivalent to $415,143 to $1.1 million in 2023 [31]) per life saved compared to other public policies which cost an average of $7.6 million (equivalent ...
Benefit consultants from Mercer, Aon and Willis Towers Watson see employer healthcare costs jumping 5.4% to 8.5% in 2024 due to medical inflation, soaring demand for costly weight-loss drugs and ...
This amounted to 15% percent of U.S. GDP in that year, while Canada spent 10%. A study by Harvard Medical School and the Canadian Institute for Health Information determined that some 31% of U.S. health care dollars (more than $1,000 per person per year) went to health care administrative costs. [109]
The only problem: The new version costs almost 10 times as much as the imported version, about $32,000 per course of treatment. Cost of lead poisoning drug jumps from $3,500 to $32,000, making it ...
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