Detailed Analysis of Factors Influencing Rising Costs in U.S. Healthcare Systems and Potential Policy Measures to Ensure Sustainability
Detailed Analysis of Factors Influencing Rising Costs in U.S. Healthcare Systems and Potential Policy Measures to Ensure Sustainability by Getinet Babu Amenu Introduction The U.S. healthcare system is often regarded as a global leader in medical innovation, boasting cutting-edge technologies, groundbreaking treatments, and a highly skilled workforce. Despite these achievements, it is equally notorious for its staggering costs, which have risen to levels that many consider unsustainable. For instance, hospital-based spending alone is expected to grow at an average annual rate of 5.7% over the next decade (Centers for Medicare & Medicaid Services, 2021). These rising costs place immense pressure on individuals, families, and the broader economy, sparking widespread concern about the future of healthcare affordability and accessibility in the United States. This report delves into the underlying factors contributing to the escalating costs of healthcare, examining ...