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Healthcare Expenditure in America Twice as Much as Other Wealthy Nations

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Published on : Nov 19, 2015

Chances are that if you stay in one the more developed nations in the world, your access to improved health care has increased over the past decade. 

A report from the Organization of Economic Cooperation and Development released this month analyzed health indicators and expenditures across the 34 countries that are a member of the group of mainly wealthy countries in order to study and compare the health care quality in each member nation.

According to the study, standards of health care have been improving across the board in the Organization of Economic Cooperation and Development countries, whether those nations are “developed” or not. The average expectancy of life has risen since 1970 by 10 years and the number of doctors in all these countries has also gone up in terms of per capita and numbers. 

However, when it comes to health care expenditure, the expenses in the United States have not been reaping returns. 

The Organization of Economic Cooperation and Development study reveals that the US spends more money per capita on health care compared to any other OECD nation. The United States spends about US$ 8,713 per person, which is over twice the amount spent by the average OECD nation – US$ 3,453.

Despite this, Americans have an average life expectancy of 78.3 years, which is just on par with Chile and lower than the average Organization of Economic Cooperation and Development expectancy of 80.5 years. 

Greece, Slovenia, Norway, Japan, and many other OECD nations spend lesser amount of money on health care but have people that have a life expectancy of the average American or even more. 

This additional spending by the US does not always go to improved quality health care and sometimes does not even go to care altogether. This money is sometimes dedicated to fixing the inefficiencies in the system.