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MTM MTM Magazine Healthcare US Health Care costs out of control, Medical Outsourcing?

US Health Care costs out of control, Medical Outsourcing?

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The United States leads the world in Health Care spending as a percentage of GDP at $2.3 trillion, or 16.5 percent of GDP, the 2006 U.S. National Health Expenditures (NHE) dwarfs other major sectors of the economy. Health Care accounts for 16.2 %, housing 10.6 %, food 9.6 %, and in fourth place national defense at 4.8 %. The NHE is projected to increase by more than 70 % between 2007 and 2015, with Health Care expected to account for almost 20 % of GDP. A sleeping giant that has consumed the largest sector of the economy and its appetite is continually growing; this sets the stage for alternatives such as Medical Tourism, Medical Travel, Medical Outsourcing and Global Health Care.

Nearly 47 million Americans between the ages of 18 and 64 carry no health insurance coverage. In the past, only the poor or the unemployed faced this problem. Today, with Health Care costs rising dramatically each year, the threat of being uninsured now extends to low and moderate income people as well. Between 1980 and 1998, according to the Health Care Financing Administration, the amount of money Americans spent on Health Care has quadrupled. In 1998 Americans spent $1.1 trillion on health care, roughly $4,000 for every person in the United States. MTM provides Medical Outsourcing as one of the solutions.

Graph Provided by New America Foundation

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