Produced FROM Merck Manual
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Health care in the US is technologically advanced but expensive, costing about $3.6 trillion in 2018, which was 16.9% of gross domestic product (GDP) (1). This percentage is significantly higher than in any other nation.
According to the Organization for Economic Cooperation and Development (OECD), in 2018 the next highest spending countries were Switzerland (12.2% of GDP) and France, Germany, Sweden, and Japan (each about 11%), while the average of the 35 OECD countries (OECD35) was 8.8% (2).
ASSESSMENT: Of course, the absolute amount and the rate of increase of health care spending in the US are widely regarded as unsustainable. Consequences of increased US spending on health care include the following:
CMS GLOSSARY: https://www.cms.gov/CCIIO/Resources/Files/Downloads/dwnlds/uniform-glossary-final.pdf
GOVERNMENT: https://www.bls.gov/ncs/ebs/sp/healthterms.pdf

CITE: https://www.r2library.com/Resource/Title/0826102549
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Filed under: Book Reviews, Glossary Terms, Health Economics, Health Insurance, Healthcare Finance | Tagged: Dictionary of Health Economics and Finance, Dictionay of Health Insurance and Managed Care, Health Economics, health economics terms, Health Insurance, Healthcare Finance, healthcare finance terms, managed dare | Leave a comment »