The Impact Of Health Care Costs On Healthcare - 845 Words

In the past, health care costs has been between 1% and 2.25%, greater than the potential gross domestic product (GDP) (Congressional budget office, 2013). However, Price Waterhouse Coopers Health Research Institute’s (PWC) projects a medical cost of 6.5% for 2014, which is lower than the estimate of 7.5% in 2013. This result indicate that medical inflation in 2014 will be far lower than 2013 (PWC, 2014). Cutler Neeraj (2010) state that, it is difficult to lay a finger on what accounts for the recent slow growth in healthcare spending because of all the functional parts of the healthcare industry. Nevertheless, reduction in health care costs has been achieved as a result of combination of different efforts (Cutler Neeraj, 2010). Gruber (2013) report that, ACA has a significant effect on healthcare spending. With the federal government’s new readmission penalties that targets waste in the healthcare system, where most hospitals have re- evaluated their readmission policy by ensuring that patients are given high-quality care during their initial admission and better planning on how the patient will obtain care after disc harge. To avoid patients returns soon after discharge. This implementation is reported to have a major effect in reducing healthcare spending (Gruber, 2013). In addition, ACA’s direct changes in Medicare payment has significantly curb overpayment, which as a result effectively reduced healthcare spending (Congressional Budget Office (CBO), 2013).Show MoreRelatedU.s. Healthcare Systems Of The United States1185 Words   |  5 PagesU.S. Healthcare Systems The United States has a broad history of diversity and challenges that no other country has faced. One of those challenges has been providing healthcare for its citizens. 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