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11-Jun-2017 07:26

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The OECD is an international organization of 34 developed countries such as Australia, Canada, Germany, Japan, and the U.

S.[47] [48] , “results obtained with international comparisons should be treated with considerable caution,” but a “common and extremely robust result of international comparisons is that the effect of per capita GDP (income) on [healthcare] expenditures is clearly positive and significant….”[52] [53] * When the first wave of baby boomers reached the age of 65 in 2011, there were 4.5 Americans aged 20–64 for every American aged 65 or older.

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In countries with low mortality, elimination of fatal diseases by successful prevention increases healthcare spending because of the medical expenses during added life years.[63] * In 1993 through 2014, the annual operating profit margin (i.e., profit margin before interest expenses and taxes[64]) for all companies in the S&P 500 averaged 14.1%.The remainder of beneficiaries’ healthcare expenses were paid by private supplemental insurance (15%), direct out-of-pocket spending (13%), and other government programs such as Medicaid and the Department of Veterans Affairs (6%).[170] [171] * In 2013, Medicare payment rates for inpatient hospital services were 63% of private health insurance payment rates,[190] and Medicare paid hospitals an average of 12% below their costs of caring for Medicare patients.[191] * People who are aged 20-64 are known as the “primary working-age population.”[192] When Medicare began funding healthcare for seniors in 1966, there were 5.5 Americans in their primary working years for every American aged 65 or older. As the baby-boom generation matures and projected life expectancy increases,[193] the Social Security Administration projects that this ratio will decline by 36% by 2020 and 50% by 2030: * When Medicare was established in 1965, the period life expectancy for 65-year-old Americans was 12.9 years for males and 16.3 years for females.By 2014, these figures had risen to 18.1 years for males and 20.6 years for females.Spokesmen for hospital associations in Alabama and Arizona have stated that hospitals generally will care for Medicaid patients beyond these time limits regardless of Medicaid’s willingness to pay.[89] * Federal law requires most hospitals with emergency departments to provide an “examination” and “stabilizing treatment” for anyone who comes to such a facility and requests care for an emergency medical condition or childbirth, regardless of their ability to pay and immigration status.

This is mandated under a federal law called the Emergency Medical Treatment and Active Labor Act (EMTALA).[90] [91] [92] * In 2000, emergency room physicians incurred an average of 8,300 in bad debt by providing treatment mandated under EMTALA.

But when analyzing the effects of preventive care on total spending for health care, it is important to recognize that doctors do not know beforehand which patients are going to develop costly illnesses.

Hewlett-Packard, the worst performer in the Dow Jones industrial average in 2012, has nearly doubled this year.… continue reading »

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