American taxpayers footed the bill for at least $1.8 trillion in federal and state health care expenditures in 2022 — about 41% of the nearly $4.5 trillion in both public and private health care spending the U.S. recorded last year, according to the annual report released last week by the Centers for Medicare and Medicaid Services.
On top of that $1.8 trillion, third-party programs, which are often government-funded, and public health programs accounted for another $600 billion in spending.
This means the U.S. government spent more on health care last year than the governments of Germany, the U.K., Italy, Spain, Austria, and France combined spent to provide universal health care coverage to the whole of their population (335 million in total), which is comparable in size to the U.S. population of 331 million.
Between direct public spending and compulsory, tax-driven insurance programs, Germany spent about $380 billion in health care in 2022; France spent around $300 billion, and so did the U.K.; Italy, $147 billion; Spain, $105 billion; and Austria, $43 billion. The total, $1.2 trillion, is about two-thirds of what the U.S. government spent without offering all of its citizens the option of forgoing private insurance.
First of all what? Typically the highest paid members of hospital staff of “Administrators” who have completely shifted health care into a for-profit business. If the government regulated them out of their jobs and there were price caps set in place instead of wasting hundreds of hours decoding billing and fighting insurance companies doctors would very likely make more. They would also be more likely to actually try to help you versus hit unrealistic patient exam quotas to try and extract as much money from insurance to benefit the administration staff. Hell new doctors in medical school are pretty much unpaid and forced to work hours that somehow circumvent labor laws. The whole medical industry needs to be overhauled. Getting rid of middle management would free up capital that could be properly reinvested into the hospital for better equipment, wages etc.
I expect that’s politically the way to go; not that I know anything about that. You get rid of a few inefficiencies and pay off other stakeholders with most of the gains.
The fact remains, if you want to lower health care costs to levels comparable to other countries, you have to lower all the costs to comparable levels, including doctor’s pay.
I don’t think you understand just how much bloated administrative costs and bureaucracy account for the U.S.‘s healthcare spending. It’s absolutely NOT doctors’ salaries accounting for the literally billions we are spending and no doctor’s shouldn’t be paid less to do the same job. Remove the middle men and ghoulish profiteering from healthcare.
The US can pay doctors as much as it wants. If Americans think that doctors deserve more than they get in other countries, that’s not for me to judge. Mind, that it does imply that the US is more unequal than other countries, because Americans want it to be.
True, merely lowering the administrative overhead will also go some ways to lower costs. But here, too, I wonder if Americans are really willing to do that. Sure, everyone wants to get rid of the useless middle men, but that’s not anyone’s job description.
Education costs in the US are also astronomically higher than other countries, which when you’re indebted 250-500k as soon as you graduate medical school, you are going to command a higher wage to make payments. The Education system in the US suffers from the same “we should run this like a business” greed that the medical industry does and should absolutely be reformed. Cause freedom isn’t free but it can be financed 🙄