Analyze the Evolution of Financing on the U.S. Healthcare System

Analyze the Evolution of Financing on the U.S. Healthcare System

 

 

 

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Finance is a field that is concerned with the allocation of funds to people or an organization. Healthcare is maintenance or improvement of medical care to individuals via prevention, diagnosis and offering treatment for a condition. Healthcare financing is mobilization, utilization, and allocation of funds to cover the health needs of individuals. Therefore, financing healthcare is one of the core elements of the health system. Healthcare financing in the United States has evolved and a clear portrait is seen in personal health expenditures.

            The year 1970s

             In the 1970s, growing health care expenditure carried on with being an issue to the administration. Medicare became law and national health expenditure increased by 30%.

Consequently, medical costs began to grow when Medicare and Medicaid were implemented.

(1,174 words)

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