What\nhappened? <\/p>\n\n\n\n
If you\nlook at the graph below, you will see that something clearly happened. <\/p>\n\n\n\n The Organisation for Economic Co-operation and Development (OECD) website stated:<\/p>\n\n\n\n \u201cSince\n2009, average health spending as a share of GDP has remained relatively stable\nacross the OECD at around 8.8%, as growth in health spending has remained in\nline with overall economic growth since the economic crisis.<\/p>\n\n\n\n At\n17.1%, the United States spent the highest share of GDP on health in 2017, while\nTurkey allocated around 4.2% of its GDP in the same year.[2]<\/a>\u201d<\/p>\n\n\n\n Most of the counties in the OECD have national or socialized healthcare – for the most part, the U.S. does not. <\/p>\n\n\n\n **Roughly, 50% of all healthcare\nin the U.S. is paid by Federal, including the Veteran\u2019s Administration (15\nmillion), Federal programs like Medicare (53 million), joint federal and state\nprogram Medicaid (68M), and federal, state and local employees. <\/em><\/p>\n\n\n\n 1965 was\nkey because that is when both Medicare and Medicaid were enacted, and the first\nbenefits started soon thereafter in 1966. <\/p>\n\n\n\n In the\ngraph below, you can see the comparison.<\/p>\n\n\n\n [3]<\/a><\/p>\n\n\n\n The\nreason we bring this to light is because we are convinced that the U.S.\nhealthcare cost will grow from about 18% of GDP, to likely 25% of GDP by 2030\nand because of that, we are likely to see the most innovation in healthcare over\nthe next decade. <\/p>\n\n\n\n It will\nnot be about providing more benefits, and socialized medicine in the U.S. However, what we will see is a transformation\nfrom the use of technology in healthcare, to a technology driven healthcare. <\/p>\n\n\n\n While\nthe transition has slowly begun, we expect it to accelerate materially over the\nnext few years. The peak year from Medicare enrollment for this generation of\nretirees will be 2025. Medicare is preparing and exploring new payment models\nas they realize what is still ahead. <\/p>\n\n\n\n This is\na really bad time for healthcare. \nRecently, there was a report that 70% of medical providers are\nexhibiting signs of burn-out, and that one physician each day is committing suicide\n\u2013 that\u2019s double the general population rate! The stress that doctors are facing\nis too hard to describe. Some of these pain points have been the mandate (and\ncost) to adapt to complicated Electronic Health Records (EHR), material\nreduction in inflation adjusted reimbursement, substantial increase in\ndocumentation, pressure from payors, pre-authorization nightmares, and last and\nbut not least, increasing employment and operating costs. <\/p>\n\n\n\n We will discuss more about the future of healthcare in our next blog, Healthcare 2030 Pt. 2. Noel J. Guillama, President<\/p>\n\n\n\n [1]<\/a> The Organization for Economic Co-operation and Development is\nan intergovernmental economic organization with 36 member countries, founded in\n1961 to stimulate economic progress and world trade. Wikipedia<\/a><\/p>\n\n\n\n [2]<\/a> https:\/\/www.oecd.org\/health\/health-<\/a>data.htm<\/a><\/p>\n\n\n\n [3]<\/a> https:\/\/en.wikipedia.org\/wiki\/Medicare_(United_States)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" We have had an incredibly busy summer in South Florida. I would like to say that healthcare was also quiet however, it seems more activity, more stress and more desire to change the path of U.S. healthcare continues to grow each year. In our last blog, we warned that \u201cMedicare for All\u201d would make the U.S. Healthcare problem worse. Though we believe the U.S. healthcare delivery is not among the best, it has also become very frail, and it is becoming very concerning. In 1965, the U.S. was at the […]<\/p>\n","protected":false},"author":6,"featured_media":4009,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/pwer.com\/wp-content\/uploads\/2019\/09\/AdobeStock_246934376.jpeg","_links":{"self":[{"href":"https:\/\/pwer.com\/index.php?rest_route=\/wp\/v2\/posts\/4005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pwer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pwer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pwer.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/pwer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4005"}],"version-history":[{"count":6,"href":"https:\/\/pwer.com\/index.php?rest_route=\/wp\/v2\/posts\/4005\/revisions"}],"predecessor-version":[{"id":4024,"href":"https:\/\/pwer.com\/index.php?rest_route=\/wp\/v2\/posts\/4005\/revisions\/4024"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pwer.com\/index.php?rest_route=\/wp\/v2\/media\/4009"}],"wp:attachment":[{"href":"https:\/\/pwer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pwer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pwer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"http:\/\/803.557.mywebsitetransfer.com\/wp-content\/uploads\/2019\/09\/blog-pic-1.png\")
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