Healthcare in the USA is considered to be pretty expensive. All of us must have read tons of articles on the net describing the high cost of healthcare in the United States. And, a lot of people have many reasons supporting or explaining the high cost of healthcare in the USA. Although the cost of healthcare is high in the States, the availability of the best healthcare system is also there. The cost has been a major challenge of all the USA governments and leaders, and all of them have tried their best to deal with USA healthcare cost issues.
As per some of the reports, it is believed that an average insured and uninsured American spends almost the same amount of money on healthcare. Isn’t that a bit strange? Both of them spend almost $654 and $583, pretty much similar. In this article, we will talk about a few steps that the leaders and healthcare experts teams in the United States might take in 2020 to curb the costs.
Reasons for the high cost of healthcare in the States
Though there can be several reasons leading to the high cost of healthcare in the States, one of the key factors is the lack of price transparency. The healthcare leaders have had a lot of discussions about it in the past; however, we are still waiting to see a concrete and meaningful outcome of the discussions related to the price transparency. Apart from this, the moral hazard which is being created by health insurance is also the prime causing of the increased healthcare it services provider costs.
Additionally, people in the States do not have access to a lot of the healthcare pricing related data, therefore, sometimes; making decisions becomes a little tough for them. For example, when it comes to buying a refrigerator, the citizens might be able to get more information than while opting for a healthcare service. Not a lot of data related to the quality of healthcare services is also accessible.
The healthcare institutes or the clinicians refrain from providing quotes to the patients. Therefore, the patients do not get a chance to compare the services between the competitors and make the right decisions. Instead, they choose a hospital or a healthcare service provider without comparing it with others due to the lack of data.
How to reduce healthcare costs in the States in 2020?
The healthcare teams and the leaders are trying their best to reduce the healthcare costs in the States in 2020. To do that, first, try to solve the major problems. One of the key issues is price transparency. Once that is sorted, most of the other issues will be resolved automatically.
For example, if the prices are more transparent, then the patients will get a chance to compare and choose the best or the most suitable hospital or clinic. Therefore, the leaders are first of all trying to make the healthcare costs more transparent for the public.
Medicare for All is the answer?
Medicare for All might solve the problem. It is aimed to reduce the healthcare costs in the States, and if it is implemented successfully, then the strategy will help to reduce the prices. Along with that, even a public option can help to curb the costs. And, if both of these policies or strategies are implemented, then they could reduce the cost to a great extent, almost 75%. Additionally, there is no doubt about the fact that access to healthcare services will increase automatically. Also, the quality of healthcare services will be enhanced as well.
The policies will ensure greater transparency, therefore, people will be in a better position to compare and make the right choices. Price tags will be highly significant for the people. As, based on the tags, they would be able to identify the best service that they want to opt for. Also, the tags will help them to select the most suitable services for them. They won’t just opt for anything without knowing how much they will have to pay for it. Rather, they would first know the cost, compare and then opt it.
Also, there is no doubt about the fact that the introduction of new technology will play a significant role in improving healthcare in the States too. And, it may have the potential to reduce the cost and automate the healthcare processes; therefore, they will be adopting the latest technology to enhance the quality of care.