U.S. HEALTH CARE INDUSTRY

U.S. health care industry



Low cost health care on the U.S. health Care Industry

Introduction

United States is the biggest, most diverse society on the earth, and this is also reflected in their medical system. They spend approximately two trillion dollar per year on health care; around one in every seven dollars in the economy, yet they are still one of the few nations where all citizens do not have medical coverage. Insurance of Health is an incentive, attached mostly to the job of many Americans, or it comes as a result of the programs by the government such as Medicaid and Medicare. It is ironical that America, a state that spends the most money per capita on health care, and has the most advanced technology in medicine, is not the healthiest society on the planet. Obviously, the medical system is not everything to blame ; however, the main cause is the expenditures of the American health care system. On the contrary, India is already among the most populated areas on earth, and the country's healthcare expenditures are also very low compare to the US. Besides all these facts the country still managed to provide high quality health care services. This assignment will assess the impact of India's high quality, low cost health care system in the U.S. health care industry.

Critical Analysis

Healthcare is one of the fastest growing industries in India and it has two segments namely- private healthcare and national healthcare (Iglehart, 2010). This sector is not just related to hospitals but also includes insurance, pharmaceutical companies, diagnostics, information technology enabled services, information technology and manufacturing of medical equipment. India's health care industry is expected to grow about 23 percent annually to achieve the return of an estimated $ 77 billion by 2012 from current valuations of up to $ 38 billion. The study by the Federation of Chambers of Commerce and Industry of India and Ernst & Young India to the country's need for investments worth $ 86 billion to add 1.7 million matched by the bed at the end of 2025(Friedman, 2001).

Given the rapid growth witnessed in India as well as the increase in the number of the population, large numbers of Indians suffer from diseases that are spread mostly in developing countries. The Indian healthcare sector with its super specialty hospitals and extensive network of healthcare service providers is proving to be an attraction for many. So far, private equity players have been showing great interest in the Indian healthcare sector, funding a series of startups. Indian health care providers are planning to lower their prices for treatment and access to the latest means of medical technology and compatibility with the growing international standards of quality and ease of communications for India on this feature. The market research report shows that India's share of the global medical tourism industry will jump to about 2.4 percent by the end of 2012, and is expected to increase the number of applicants medical tourism to ...