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Review Article Open Access
Rising costs of health care has been a cause of concern in recent years. According to the latest estimates we spend $2.9 trillion dollars every year, around 18% of the GDP, and about $9,255 per person each year in health care costs. But it is highly debatable if this high expenditure translates into improved patient care and healthcare outcomes. The healthcare is presently considered an industry or a business venture. The corporatization of medicine leading to the rising administrative costs and growing cost of prescription drugs and devices is also a cause of concern and are major contributing factors to the rising health care costs. The practice of defensive medicine is, in part, contributing to the present situation. We believe that the present-fee-for-service reimbursement model needs to be changed to value-based-care which can help in improvement of patient care outcomes without increase in the health care costs. Major health care reforms are long overdue, but who will ring the cat?
Health care costs, Administrative costs, Fee for reimbursement, Value based care, Health care costs, Administrative costs, Fee for reimbursement, Value based care