The tread in health care costs have been on an upward climb in the U.S. and in the rest of the developed world. The total amount spend on health care in the U.S. was at $2.6 trillion in the year 2010. The health care market trends is composed of hospital care with the highest percentage, clinical and physician services, drug prescriptions, home care nursing and home health, dental care, among others. It is there important for the trends in health care to be known in order to know and understand the direction of the health care takes.
Competition and industry Comparisons
The economic reality of nations is in direct conflict with patients needs when it comes to Health care. The world today the health care is in a more dysfunctional competition. Industry comparisons reveal that players are struggling to offer value for patients but at the same time using all efforts available to get more revenue, minimize costs, and reduce services. In order to reform health care, efforts must be made to reform the competition nature itself. All stakeholders must be put on board to have a close look at the nature of competition that exists. Otherwise if the economic factors are not considered then many companies are likely to pull and the few remaining will not be able to serve all the people. At the same time the patients’ desire must also be considered to prevent exploitation by the providers.
It is imperative to empower the healthcare industry in order to develop performance in the areas of safety quality, satisfaction, costs and utilization by using scorecards and benchmarks that adhere to the Institute of Medicine’s (IOM) objectives of enhancing healthcare.
Profound evidence show that the healthcare sector is in dare need of vital reforms as a major expectation. Most of the agreements that need attentions are on issues of affordability of the insurance of the healthcare, to access. There is also the need to provide quality care, and considerations of the costs associated with the systems. Solutions must therefore be sort for these expectations in the healthcare.
Keehan, S.,(2008). Health Spending Projections Through 2017. Health Affairs Exclusive. Vol. 4. (12), pp. 10-14.