This is an amazing and scary visualization. I think it gives a lot food for thoughts. It would be interesting to analyze whether my impression that most of the costs are administrative overhead and not patient care is true and how it compares between the countries.
Founder of Eeagli | Data visualisation, Keynote speaker, Investment Writer, Content Expert, Equities, Fixed Income, Economics
Wow! The US spent a staggering $11,031.29 per capita on healthcare in 2021 (which is the latest data I have). That’s over DOUBLE the average for most wealthy nations. Is this a trend? Well yes, it's a long term one. US healthcare costs have risen from just 5 per cent of GDP in 1962 to 17 per cent in 2022 and have most likely contributed to the US’s ballooning debt. Two major factors are driving costs: an ageing population and the rising prices for medical services. Healthcare prices have historically grown faster than #inflation, due to expensive new technologies, administrative waste and hospital consolidation. The consequences of inaction are dire. Rising healthcare hurt economic growth and reduce disposable incomes. I wonder if this topic will feature in the presidential debates. Let me know your thoughts. Do you have any additional knowledge of the US healthcare system that you can share? I'm a total newbie here. #healthcare #costsavings #publichealth #economy