U.S. Health Care Falls Behind Other Countries Despite High Costs
It seems that the U.S. economy is in a losing race compared to many other countries because health care just doesnt measure up. In fact, a recent report from the Business Roundtable suggests that if the economy was in the 100-yard dash, we would start 23 yards behind our closest competitors.
Americans Spend More on Health Care Than Any Other Country
Unfortunately, the main culprit for our suffering economy is health care, which not only costs too much, but delivers much too little. It has essentially become a liability in the global economy. Currently, Americans are said to spend $2.4 trillion a year on health insurance, which is two-and-a-half times more than what is spent in any other advanced country.
More Money Spent For Less Results
But whats worse is that after health insurance costs are combined with benefits to look at statistics such as life expectancy, death rates, and other readings, such as cholesterol and blood pressure, health measures are beyond disappointing. A 100-point value scale shows that the United States falls 23 points behind the five leading economic competitors, which are Japan, France, Germany, Canada, and the United Kingdom. Even worse, when comparing the costs and benefits of China, Brazil and India, the U.S. falls 46 points behind.
President Barack Obama has determined that these high costs and the apparent lack of benefits can no longer be tolerated. As a result, he says US health care needs reform. Many experts in the health care industry, including the CEOs of the Business Roundtable, agree. Their collective goal in the coming years is to create a health care system that offers costs that equal the value of service being received but most importantly, keep health care away from full government funding and in private hands.