The overall expenditure on healthcare of the United States is one of the highest in the world and is increasing every year. In year 2006, the total cost of $ 2 trillions was about 16 % of the total national GDP (nchc.org 2008).
An increase of 6.9 % was recorded with the total costs jumping up to $ 2.3 trillion in 2007. An average annual health care cost per person was $7,026 and $7600 in 2006 and 2007 respectively. The annual healthcare costs are on constant rise and are expected to double during the next decade (cms.hhs.gov).
An analysis of healthcare statistics from 200-2008 shows the clear increase in overall expenditures as well as the annual cost per person. The table given below provides figures of total annual expenditures from 2002-2007. It also provides a breakup of costs per capita, cost per % of GDP, expenditures in Health Services and supplies, personal healthcare, hospital care, physician and clinical services expenses and prescription and drugs costs.
The US government is keen to provide quality healthcare services to all its citizens and is constantly supplementing its resources and facilities with an annual increase of be 6.7 percent to be retained till 2017. This increase is even greater than the total economic growth of 4.9% (cms.hhs.gov).
kaiseredu.org. U.S. Health Care Costs
http://www.kaiseredu.org/topics_im.asp?imID=1&parentID=61&id=358 (accessed october 5, 2008).
National Health Expenditure Projections 2007-2017. http://www.cms.hhs.gov/NationalHealthExpendData/Downloads/proj2007.pdf (accessed october 5, 2008).
nchc.org. Health Insurance Costs. http://www.nchc.org/facts/cost.shtml (accessed october 5, 2008).
oig.hhs.gov. http://www.oig.hhs.gov/oas/reports/hcfa/b9800400.pdf (accessed october 5, 2008).