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Health Economics-Module 5-Assignment

Health Economics-Module 5-Assignment

Q 1. Reflect on cost issues encountered in the health sector. 2. Your analysis should involve pharmaceutical companies, hospitals and other health care providers. 3. Recommend policies to curtail costs. 4. Discuss also the feasibility of implementing cost reduction policies.

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A high value of the U.S. healthcare is one of the problems of the U.S. health system. According to a recent report, the U.S. spent 17.8% of its GDP in the healthcare, contrary to 11.5% spent by other developed countries (Blumberg, 2018). When analyzed part by part, it can be found that costs of all the healthcare components, including the hospital service, diagnostic service, and medicine is higher in the U.S. than the other developed countries.