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Real or Imagined Solutions
According to David M. Cutler, of the Center for American Progress Fund [CAPF] on May 11, 2009, health care will be the major challenge to the federal budget in coming decades. Rising health costs will account for nearly all of the expected increase in government spending relative to gross domestic product [GDP].
Healthcare Costs and GDP
Health care currently accounts for 16 percent of domestic GDP, and that share is forecast to nearly double in the next quarter century. Spending money on health care is not bad, but wasting money is very bad.
Link: http://www.americanprogressaction.org/issues/2009/05/health_modernization.htmlHIT
HIT to the Rescue
But, $600 billion might be saved over the next ten years, and $9 trillion saved over the next 25 years, if HIT initiatives are used; says the CAPF.
Assessment
Estimates suggest that a third or more of medical spending—perhaps $700 billion per year—is not known to be worth the cost. Wasting hundreds of billions of dollars on inefficient health care is a luxury the country cannot afford.
Conclusion
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Filed under: Career Development, Health Economics, iMBA, Inc., Information Technology, Practice Management | Tagged: CAPF, Center American Progress Fund, David Cutler, federal budget, GDP, health costs, health technology, healthcare economics, HIT, medical spending | 3 Comments »
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