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Economics Healthcare Paper Essay

This paper discusses the advantages and disadvantages of a single payer healthcare system in the United States. The constant rising cost of health care has lead to many individuals trying to understand their health coverage option and also to search for other different health care packages which will save them money. One of the most controversial options that will save people money is the single payer health care. This system involves citizens paying taxes for the various health care services which are offered by the government to every man, woman, and child.

This system has been used in Canada and various European countries for years now. This system involves everyone paying taxes for different services provided by the government. With this package, the government guarantees every individual regardless of his/her economic and social status, age and health status health care when injured or ill. This package will save a lot of lives as everyone’s health needs will be catered for by the government. The physician will have an easier time in the hospital after admitting a patient and diagnosing him.

This system eliminates the complex billing procedure which various physicians have to follow every time they diagnose a patient. This billing statement

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has to be signed by the personnel in charge, so introduction of this package eliminates this process. With everything provided by the government, the price of health care provision will be reduced because the hospital will become a nonprofit organization. The hospitals will no longer have many corporate executives who draw gigantic salaries and bonuses. This will also eliminate the need for the corporate executives to examine profits for the hospitals shareholders.

With this system, you do not have to worry about being denied the health care services because of money or insurance coverage. This will eliminate the need for health indemnity covers. Even though this increase in taxes will seem high, it is quite lower for individuals who normally pay costly indemnity packages. This package will be cheaper and affordable for individuals who don’t make a lot of money. Although the doctors will be paid less as government salaried employees, they will get various bonuses.

If their patients decide to take on a lifestyle change which will help deal with the rising health care costs the doctors will then get bonuses, which is unlike the other fields where the employees do not get any bonuses for saving the government money. Various single payer system critics claim that this system will be centered around the government and these individuals don’t want to give the government this much power. This system will eradicate competition in the healthcare field making it impossible for the individuals to seek health care services somewhere different.

This will also make it hard for various individuals to have various procedures crucial for their health in a timely manner. Since everything is paid for by the taxes in this system, many people do not like the idea that their money will be paying and supporting the unhealthy decisions of others. The government bureaucratic procedures and budget issues will rationalize Economics Healthcare Paper By Geoffrey- Boas necessary. There are many advantages and disadvantages to the single payer system, however the advantages heavily outweigh the disadvantages.

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