If you thought your spending habits were out of control, just wait until you get a load of our healthcare system. It’s no big secret that the US has to work out some serious kinks from it, but it just might be worse than you imagined. Nearly one third of funding is wasted on unnecessary procedures, inflated prices, and fraud. That amounts to $750 billion annually; to put this in perspective, the entire US DOD budget for the war in Iraq was $757.8 for eight years.
Many patients, even if they are able to visit a doctor, have significant issues during the billing process, or never even go to their follow up appointments. Frequent lab and medication errors are also not uncommon in the US healthcare system. Twenty percent of Americans experience some form of malpractice in their lifetime. Whether accidental or not, 18 percent of hospital patients suffer additional injury during the course of their care. That number is even higher for Medicare patients. Those adverse events in medical care contributes to the astounding 180,000 deaths per year.
Check out the infographic below to learn more about how our healthcare system is flawed.
Image compliments of MBA in Healthcare Management Degrees