In recent years, you may have noticed that you are spending more on medical care without having increased the amount of care you need. From routine doctor visits to trips to the pharmacy to more intensive procedures, however, all sectors of healthcare have seen rising costs. There are a number of explanations for why your healthcare is getting more expensive.
While new technology can help improve healthcare in so many ways, it is expensive. According to Healthcare IT News, it is estimated that new technologies in healthcare, whether 3D printing, robotic surgery, or telehealth, account for up to 50 percent of healthcare cost increases. And the cost of new technology in healthcare gets passed on to the patient in added costs. Doctors and patients like to use the latest technology because they believe it leads to better care, however, so this is unlikely to change.
Another reason for the rising cost of healthcare is that prescription drugs have gotten more expensive. According to Xevant, most of the prescription drug price inflation can be blamed on brand-name drugs. Over 70 brand-name drugs have gone up in price in recent years. Another reason prescription drug costs have gone up is that their prices are not regulated. This means that manufacturers can set any price they want for a drug even if that price is overinflated. A good option for dealing with these cost increases is asking for the generic version of the prescription drugs you need.
The overall decline in the health of the United States as a whole has also contributed to the rise in healthcare costs. It is estimated that around half of the population of the country has a chronic illness, such as asthma or diabetes. In addition, WBUR News says around 40 percent of the U.S. is obese. Being obese can negatively impact health, leading to high blood pressure, heart disease, or stroke. The rising number of people with chronic health conditions and obesity drive up the cost of healthcare for everyone. The health problems that so many Americans are dealing with are making it more expensive to insure people, which is raising the costs of premiums.
There are numerous reasons why healthcare costs are rising. By understanding the reasons why this is happening, you can both manage your expectations, and plan ahead. Having this knowledge will help you make educated decisions about your medical treatment.
Read this next: 3 Health Conditions That Hit Earlier Than You'd Think
Interested in Publishing on The Health IDEA?
Send your query to the Publisher today!