Describe the flow of finance in health care in the United States, referring specifically to payment sources and outlays for health care services.
What will be an ideal response?
• Private health insurance finances 37 percent of all health expenditures; out-of-pocket payments cover another 13 percent. These private sources, together with other (mostly philanthropic) sources, account for 54 percent of all health expenditures in the United States. The other 46 percent is financed publicly either by federal, state, or local governments. The largest single public program is Medicare, followed closely in size by Medicaid and other government programs.
• Although hospital expenditures have dropped substantially as a proportion of health care expenditures in the past 20 years, 41 percent of the money spent on health care in 2004 was used to purchase hospital and nursing home services. Another 40 percent was divided among physicians’ services and other personal care items. Prescription drugs accounted for 11 percent of health expenditures; this percentage has continued to rise in recent years. The remaining 8 percent was spent on administration and health insurance.
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