Analysis of a Pertinent Healthcare Issue (rising costs of healthcare)

Analysis of a Pertinent Healthcare Issue (rising costs of healthcare)

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Introduction
The health care system in the United States is faced with different issues that influence the quality of healthcare provided to the Americans. It is critical to comprehend that there has been a need for implementing healthcare reforms to manage some of the issues that hinder access to healthcare services. Healthcare providers are faced with high pressure to provide better outcomes at relatively lower costs. The United States spends more resources on healthcare than other countries, and high spending is anticipated to increase in the future. However, the main concern is that the high costs of healthcare do not facilitate better health outcomes. This literature examines the rising costs of healthcare, determines how the stressor impacts a healthcare organization, and evaluates how it may be addressed.
Ideally, the United States is among the countries with the highest costs of healthcare. In 2018, it was approximated that the country spent nearly $3.6 trillion on healthcare, which is approximated to be about $11,000 per person (Peter G. Peterson Foundation, 2020). It is keynoting that the costs of healthcare have continued increasing over the last few decades, and this is related to the growing size of the economy. In uncontrolled, the rising cost of healthcare is expected to reach $6.2 trillion by 2028, and this will be nearly 20 percent of the Gross Domestic Product (GDP). Various factors have contributed to the high costs of healthcare in the United States. For example, the unregulated prices act as the main contributing factor towards healthcare spending across the country. Besides, the costs of health care have increased at a higher rate than those of other services and products. Additionally, the high cost of healthcare in the United States is also associated with the increasing number of the aging population. By 2030, it is estimated that the number of aging populations will be significantly high, and this is expected to increase the cost of health care.
The organizational data acquired demonstrates that the prices have made the cost of healthcare increase, and this has affected particular groups of individuals with various conditions. For example, the cost of Humira, a medication used for managing arthritis and psoriasis in the organization, was determined to approximately $2,600. Such prices are unimaginable and make it challenging for some individuals to receive the required care. Additionally, the cost of insulin from the data collected from the organization is approximately $300; the high price of insulin makes it challenging for diabetic patients to acquire the medication for an extended amount of time. The high prices of medicines in the organization are attributed to the costs set by pharmaceutical companies.
The article “A Decade Of Health Care Cost Growth Has Wiped Out Real Income Gains For An Average US Family” by Auerbach & Kellermann (2011) explain that although the gross annual income of an African family was about $99,000 by 2009, the gains were largely impacted by healthcare spending. The cost of premium health insurance had increased to nearly $1,115 (Auerbach & Kellermann, 2...