HSM 544 Financing Healthcare Discussions 1 Week 2

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HSM 544 Financing Healthcare Discussions 1 Week 2
Discuss the role of all parties (patient, providers, and payers) to contain costs. Analyze the…

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HSM 544 Financing Healthcare Discussions 1 Week 2

HSM 544 Financing Healthcare Discussions 1 Week 2

HSM 544 Financing Healthcare Discussions 1 Week 2 All Posts 31 Pages Keller

Discuss the role of all parties (patient, providers, and payers) to contain costs. Analyze the impact of cost-containment efforts on the rising cost of healthcare.

In 2000, health care spending rose to $1.3 trillion dollars, or an average of $4,637 per person. As a percentage of the Gross Domestic Product (GDP), it grew from 13.1 percent in 1999 to 13.2 percent in 2000. National health expenditures are expected to reach $2.8 trillion in 2011, with an average annual growth rate of 7.3 percent from 2001 to 2011. By growing 2.5 percent faster than the GDP, expenditures will consume approximately 17 percent of the GDP in 2011.

In 2000, spending for health services increased at virtually identical rates in the public (6.9 percent) and private (7.0 percent) sectors. Spending on Medicare, the largest single public health care program rose 5.6 percent in 2000, following much lower growth rates of 0.6 percent in 1998 and 1.5 percent in 1999. For the private sector, the year 2000 marked the third straight year of significantly high growth. During 2000, hospital spending growth was 5.1 percent, the first time since 1993 that hospital spending increased more than 4.0 percent…