First and Last Name/s of Presenters

James RiceFollow

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

Course Name and Number, Professor Name

HN-300-E: Dr. Loris and Dr. Rober

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

Students' Information

James Rice, 2022, Business Economics and Finance, Honors.

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Apr 29th, 12:00 PM Apr 29th, 1:00 PM

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.

 

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