In 1950, the average American spent $500 on healthcare (2006 inflation-adjusted dollars) representing 5% of GDP. In 2006, the average American spent $7,026 comprising 16% of GDP.
Yes, we are spending more on health care than 50 years ago.
However, it is of dire importance that we consider the following realities:
·During the course of the 20th Century, life expectancy increased by 30 years.
·Between 1950 and 2000, the death rate from heart disease decreased by 59%, and from 1993-2000, the rate dropped another 22%
· In 1900, a male had an 18% chance of dying by age 1, but in 2005, the mortality rate didn’t reach 18% until age 62.
Yes, we are paying 14 times as much on health care as was spent in 1950, but in my opinion, we are receiving an amazing return. The fact of the matter is: we pay more because it is worth it.
In a time when life-saving advances are made in medicine at an unprecedented rate, society must realize that these advances come with a cost. Consider cardiac care: pacemakers cost roughly between $20-25,000 and a bypass surgery costs tens of thousands of dollars. However, we're talking about several years added to a human life. In considering the low prices promised by socialized medicine, the cost isn't low if you end up paying with your life.
Even still, the amount spent on health care comprises only 5.4% of the average household income.
Consider this breakdown of the costs for an average American family:
· Housing: 40.8%
· Transportation: 18.3%
· Food: 18.2%
· Health care: 5.4%
· Clothing: 4.5%
Though there are many inefficiencies driving the costs of health care up, there are more sensible ways of reform than resorting to a nationalized health care system.
True: We must keep health care costs in perspective.
False: We’re spending too much on health care.
Facts and figures taken from studies cited in Sally Pipes' The Ten Myths of American Health Care: A Citizen's Guide.
True or False: We're spending too much on health care.
False.
In 1950, the average American spent $500 on healthcare (2006 inflation-adjusted dollars) representing 5% of GDP. In 2006, the average American spent $7,026 comprising 16% of GDP.
Yes, we are spending more on health care than 50 years ago.
However, it is of dire importance that we consider the following realities:
·During the course of the 20th Century, life expectancy increased by 30 years.
·Between 1950 and 2000, the death rate from heart disease decreased by 59%, and from 1993-2000, the rate dropped another 22%
· In 1900, a male had an 18% chance of dying by age 1, but in 2005, the mortality rate didn’t reach 18% until age 62.
Yes, we are paying 14 times as much on health care as was spent in 1950, but in my opinion, we are receiving an amazing return. The fact of the matter is: we pay more because it is worth it.
In a time when life-saving advances are made in medicine at an unprecedented rate, society must realize that these advances come with a cost. Consider cardiac care: pacemakers cost roughly between $20-25,000 and a bypass surgery costs tens of thousands of dollars. However, we're talking about several years added to a human life. In considering the low prices promised by socialized medicine, the cost isn't low if you end up paying with your life.
Even still, the amount spent on health care comprises only 5.4% of the average household income.
Consider this breakdown of the costs for an average American family:
· Housing: 40.8%
· Transportation: 18.3%
· Food: 18.2%
· Health care: 5.4%
· Clothing: 4.5%
Though there are many inefficiencies driving the costs of health care up, there are more sensible ways of reform than resorting to a nationalized health care system.
True: We must keep health care costs in perspective.
False: We’re spending too much on health care.
Facts and figures taken from studies cited in Sally Pipes' The Ten Myths of American Health Care: A Citizen's Guide.
