The high healthcare prices are real, proved by the difference in healthcare between 1990 and the current day, the difference in prices between the U.S. and other countries, and finally the overpricing over simple items. In reality, the United States has one of the worst healthcare pricing systems in the world, and this is because of the fact that the high healthcare prices have been normalized because of reasons and scenarios, while we can’t change this fact, we can somewhat talk about this and compare it to the other countries. Some hospitals overprice the simple items that you could get at your local pharmacy by 10-fold, and how much the total healthcare spending in America has increased over the past few decades. The high healthcare prices in America are a significant problem that needs immediate attention and reform to make healthcare more affordable and accessible for everyone.
Healthcare spending in the United States has significantly grown over the years, multiplying by 100-fold. reaching $4.5 trillion in 2020 Addressing the affordability and accessibility of necessary healthcare services is crucial. According to the Health System Tracker, “Health spending totaled $74.1 billion in 1970. By 2000, health expenditures had reached about $1.4 trillion, and in 2022 the amount spent on health tripled to $4.5 trillion. In the first year of the COVID-19 pandemic, health spending accelerated by 10.6% from 2019 to 2020.”. Although these numbers are included with the inflation of the current day, the markup from only 30 years ago. While some might argue that it is because of the new up-and-coming equipment and technologies, that does not justify how it tripled, just in 15 years. When you also look at this issue, you have to take in 2 more accounts. The healthcare delivery models have changed so much over the years, from the “fee to service” model, to the more normalized “value-based care”. These structures have also caused a significant change in market prices over the years. Finally, a big reason that healthcare prices almost tripled is because of Global Health Events such as the COVID-19 pandemic, which caused a skyrocket in the pricing values that we see today.
The difference between South Korea and the United States healthcare pricing is blatant. South Korea offers free childbirth and bonuses for parents, while the United States has expensive healthcare costs that discourage seeking necessary medical care. ”In 2024, the government will expand childbirth incentives, paternity leave benefits, and housing welfare programs for families with newborns, as part of broader efforts to boost the country’s falling birth rate.” Now this is only part of the reason. While it is true that South Korea has a small fertility rate, there are more consequential reasons why the U.S. healthcare system costs more. This is because South Korea, and many other countries alongside it, opt for a universal healthcare system. This means that the government provides coverage for all medical expenses, including childbirth. The only reason that they provide a bonus, however, is because of their fertility rate. Another reason for this is that countries like South Korea have goals and priorities for keeping the public citizens very healthy. Finally, the cultural and social values towards healthcare and planning can influence how they price their services and products most often. This evidence shows the difference between South Korea and the U.S., and really how severe the U.S. healthcare costs are, even if it is just giving birth to a baby, which is quintessential for starting a family. It shows the economic state and ethical values of both countries. While South Korea wants the best for the country, by making healthcare free for all people, because they want their country to prosper in the future, instead of fear of having a baby just for the upfront and future costs. This is compared to the United States, which wants to take the money from all their customers and fear the term “doctor” just because of the costs and ticket value. They see the hospitals as places they fear because of the money they steal. Finally and most importantly, they make the people of the country fear going to the hospital, even if they have broken bones or are deathly sick just because of the costs.
Hospitals overprice the value of simple and cheap items like a bandage. This highlights the stark difference with countries like Japan, where healthcare is free. The U.S. should follow their lead. In my point of view, I have observed in many instances how corrupt the U.S. healthcare system and pricing are. One time, I got a small cut on my palm, when I fell. It hurt and was bleeding a little bit. Even though it didn't hurt too much, my dad still wanted to take me to Urgent Care to take care of an infection. We went there, and all they did was put rubbing alcohol and a small bandaid on it. When we went to the paying place, the total was about $250. That was an outrageous price for the service that they gave to us. Just putting on rubbing alcohol and putting on a band-aid is common sense, and could’ve been done by anyone, not just a qualified doctor. This shows just how inflated the healthcare prices have been, even though healthcare is a right that should not be taken advantage of by healthcare workers because people will do anything for good health. This also shows how the U.S. exploits the vulnerabilities of a citizen when they or their loved ones are hurt or sick, and all they want to do is for them to be healthy once more.
In conclusion, the rocketing healthcare prices in the United States show a critical issue that needs immediate fix. The difference between the U.S. and other nations, such as South Korea, shows the severity of the problem. With healthcare spending surging to $4.5 trillion in 2020 and the difference in healthcare structures, attention is needed to improve the accessibility and affordability of medical services. Numerical evidence emphasizes the crazy change in healthcare costs from the 1990s to the present, indicating the need for adjustments in delivery models and policy structures. The contrast with countries using universal healthcare, like South Korea, further emphasizes the problems of the current U.S. system. The overpricing of basic items, such as bandages, sets an example of the exploitative nature of the healthcare system, where simple services have significant fees. In essence, the United States must address healthcare issues, including the structure of its healthcare system and insurance coverage, to create a healthcare environment that prioritizes accessibility, affordability, and principles.
Works Cited
American Medical Association. “Trends in Health Care Spending.” American Medical Association, 20 Mar. 2023, www.ama-assn.org/about/research/trends-health-care-spending.
https://www.facebook.com/Investopedia. “6 Reasons Healthcare Is so Expensive in the U.S.” Investopedia, 13 June 2023, www.investopedia.com/articles/personal-finance/080615/6-reasons-healthcare-so-expensive-us.asp#:~:text=There%20are%20many%20factors%20that.
Kamal, Rabah, et al. “How Has U.S. Spending on Healthcare Changed over Time? - Peterson-Kaiser Health System Tracker.” Peterson-Kaiser Health System Tracker, 23 Dec. 2020, www.healthsystemtracker.org/chart-collection/u-s-spending-healthcare-changed-time/.
“Korea to Expand Baby Bonuses, Housing Support to Fight World’s Lowest Fertility Rate.” Koreatimes, 31 Dec. 2023, www.koreatimes.co.kr/www/nation/2024/02/113_366067.html. Accessed 12 Feb. 2024.
Rivelli, Elizabeth. “How Much Does It Cost to Have a Baby? 2022 Averages – Forbes Advisor.” Www.forbes.com, 10 Oct. 2022, www.forbes.com/advisor/health-insurance/average-childbirth-cost/#:~:text=Average%20Cost%20of%20Childbirth%20in.
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