{"id":77764,"date":"2023-03-18T21:58:43","date_gmt":"2023-03-19T01:58:43","guid":{"rendered":"https:\/\/www.businesspundit.com\/?p=77764"},"modified":"2023-03-20T09:21:03","modified_gmt":"2023-03-20T13:21:03","slug":"why-americans-cant-afford-illness","status":"publish","type":"post","link":"https:\/\/www.businesspundit.com\/why-americans-cant-afford-illness\/","title":{"rendered":"Why Americans Can’t Afford Illness"},"content":{"rendered":"
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\"Why<\/figure><\/div>\n\n\n

In the United States, healthcare is more than big business – it is enormous. The $3.2 trillion industry makes up 17.8% of the country’s GDP, making it nearly 1\/5 of the American economy. The U.S. healthcare industry employs 13 million people – more than any other industry.<\/p>\n\n\n\n

Other wealthy countries pay far less per person for healthcare that the $10,348 the United States spends. Other wealthy countries spend about half as much per person. And that’s because almost everything costs more in the U.S.<\/p>\n\n\n\n

American Healthcare Prices vs Other Wealthy Countries<\/h2>\n\n\n\n

<\/p>\n\n\n\n

Procedure<\/strong><\/td>Cost in U.S.<\/strong><\/td>Other Countries<\/strong><\/td>Cost<\/strong><\/td><\/tr>
A Day in the Hospital<\/td>$5,520<\/td>Spain<\/td>$424<\/td><\/tr>
Appendix Removal<\/td>$12,000<\/td>Australia<\/td>$3,814<\/td><\/tr>
Delivering a Baby<\/td>$10,808<\/td>Switzerland<\/td>$7,751<\/td><\/tr>
Heart Bypass Surgery<\/td>$78,318<\/td>UK<\/td>$24,059<\/td><\/tr>
Knee Replacement<\/td>$28,184<\/td>UK<\/td>$1,845<\/td><\/tr><\/tbody><\/table>
Prescription drug costs per capita in other countries ranges from $466 to $939.
In the U.S. per capita spending on prescription drugs is $1,443<\/figcaption><\/figure>\n\n\n\n

In some countries healthcare is paid for with taxes so there is no out of pocket expense to individuals. In the U.S. it is quite different.<\/p>\n\n\n\n

In the U.S. healthcare expenses are paid by the individual, by health insurance, or a blend of both. In almost all cases in the U.S. when a person gets sick, they will owe money for the medical treatment they receive. The sicker they get, the more they owe.<\/p>\n\n\n\n

42.9 Million Americans have unpaid medical bills. The average medical debt is $1,766.<\/p>\n\n\n\n

Most workers must pay a hefty deductible out of pocket before insurance pays anything. Most personal bankruptcies are considered “Medical Bankruptcies.”<\/p>\n\n\n\n

More than 30% of Americans living in these states have medical debts:<\/p>\n\n\n\n