Hospital Bills In 2008, U.S. health care expenditures continued to skyrocket, growing at an annual rate of 4.4 percent for the year, slower than some recent years, yet still outpacing inflation and the growth of national income.
The total spending was about $7,681 per American and accounted for 16.2 percent of the nation’s Gross Domestic Product (GDP), the highest of any industrialized country.
Medically unnecessary procedures, hospitalizations and prescription drugs all contributed to this figure of almost $8,000 per person living in the US.
So, what exactly are we getting for our money?
The Medical Paradigm Today: Promoting Profits over Prevention
Currently, the U.S. spends more on health care than any other country in the world. According to the Kaiser Foundation, health care costs in 2008 in the U.S. were over $2.3 trillion. That’s more than three times the $714 billion spent in 1990, and over eight times the $253 billion spent in 1980. With these continually rising costs Continue reading