Mentor/s
Dr. Rober and Dr. Loris
Participation Type
Paper Talk
Abstract
American healthcare consumers pay the highest cost for healthcare out of any other country in the industrialized world. Consumers pay on average $9255 per capita a year for healthcare and related expenses (Center for Medicare and Medicaid Services, 2014, P. 5). Such high prices are a result of a combination of rapidly increasing billing, bureaucratic expenses, and profit maximization by for-profit healthcare providers and related producers. Consumers see very little positive gain for the increase in price, ranking highest in metrics such as infant mortality rate and obesity related issues (Masters, et al. 2009, P. 2). Consumers are also hampered long term by increasingly expensive medical bills, which constitutes the largest portion of citizen-based bankruptcies in America. By transitioning to a single payer-based insurance system consumer will see a significant drop in administrative expenses, lower costs for operations, medications, and wellness exams, and an increased availability in access to physician care.
College and Major available
Business Economics, Finance BS
Location
Session H: West Campus West Building W112
Start Day/Time
4-29-2022 12:00 PM
End Day/Time
4-29-2022 1:00 PM
Prize Categories
Best Multidisciplinary Research or Collaboration
The Economic Benefit of Transitioning Healthcare Systems: A Study of Private and Single Payer Systems
Session H: West Campus West Building W112
American healthcare consumers pay the highest cost for healthcare out of any other country in the industrialized world. Consumers pay on average $9255 per capita a year for healthcare and related expenses (Center for Medicare and Medicaid Services, 2014, P. 5). Such high prices are a result of a combination of rapidly increasing billing, bureaucratic expenses, and profit maximization by for-profit healthcare providers and related producers. Consumers see very little positive gain for the increase in price, ranking highest in metrics such as infant mortality rate and obesity related issues (Masters, et al. 2009, P. 2). Consumers are also hampered long term by increasingly expensive medical bills, which constitutes the largest portion of citizen-based bankruptcies in America. By transitioning to a single payer-based insurance system consumer will see a significant drop in administrative expenses, lower costs for operations, medications, and wellness exams, and an increased availability in access to physician care.
Students' Information
James Rice, 2022, Business Economics and Finance, Honors.