Why Are American HEALTHCARE COSTS So High?

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Have you noticed that the U.S. healthcare system has some structural issues? Well, in this video I’m going to go over 3 reasons why healthcare in the United States is so expensive.

???? TABLE OF CONTENTS:
0:00 Introduction
0:40 Johns Hopkins Study + OECD
2:40 Population of People Without Health Insurance
3:15 Reason #1: We Pay More for the Same Drugs
4:50 Price Discrepancies Between the U.S. and Other Countries
5:15 Reason #2: Americans Avoid Healthcare Due to Cost
7:45 Reason #3: Administrative Expenses
9:55 Outro

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Sources
– Johns Hopkins Bloomberg School of Public Health Report
https://www.jhsph.edu/news/news-releases/2019/us-health-care-spending-highest-among-developed-countries.html
– Organization for Economic Co-operation and Development (OECD)
https://www.oecd.org/about/
– Inflation from 2000 to 2016
https://www.in2013dollars.com/us/inflation/2000?endYear=2016&amount=4559
– Vox’s Health Insurance Census Bureau Data
https://www.vox.com/policy-and-politics/2019/9/10/20858938/health-insurance-census-bureau-data-trump
– OECD Health Statistics
https://www.oecd-ilibrary.org/social-issues-migration-health/data/oecd-health-statistics/oecd-health-data-social-protection_data-00544-en
– CBC’s The Soaring Cost of Insulin
https://www.cbc.ca/radio/whitecoat/blog/the-soaring-cost-of-insulin-1.4995290
– YaleNews Cost of Insulin
https://news.yale.edu/2018/12/03/one-four-patients-say-theyve-skimped-insulin-because-high-cost
– TwinCities Diabetics from Minnesota

Diabetics from Minnesota find insulin at one-tenth the price — in Canada

– The House of Representatives Ways and Means Committee Report
https://waysandmeans.house.gov/sites/democrats.waysandmeans.house.gov/files/documents/U.S.%20vs.%20International%20Prescription%20Drug%20Prices_0.pdf
– Bankrate’s Health Care Cost Survey
https://www.bankrate.com/surveys/health-care-costs/
– National Institutes of Health Study
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5296930/
– Peter G. Peterson Foundation Study
https://www.pgpf.org/blog/2020/07/how-does-the-us-healthcare-system-compare-to-other-countries

Summary of the Reasons:

Reason #1:
We pay more for the same drugs. Insulin, a drug used for diabetes, is one of these drugs. When comparing the price of insulin between the U.S. and Canada, Americans are paying so much more than Canadians.

Reason #2:
Americans avoid healthcare due to cost. This is actually a common trend in the American healthcare system, people will avoid getting help when they need it, and what happens is they don’t go to the hospital until things get really bad and they need more invasive treatment.

Reason #3:
Administrative costs. If you’ve ever had to seek medical care in the U.S. you know it can get complicated quickly, especially when your insurance company may go to great lengths to avoid paying for something you thought was covered.

#healthcare #healthcarecosts #medicare

Does Universal Health Care Save Money, Why Are American HEALTHCARE COSTS So High?.

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