Financial Analysis Of Medicare



Financial Analysis of Medicare

Introduction

Health is the basic necessity of life, and providence of the best health care services is the right of every individual. With the rapid advancement in the health care industry, there has been an enormous increment in the financial aid need by the system. The united states of America are the only state that has been spending the largest amount of money on its health care system. The governmental bodies like Medicare and Medicaid have been working extensively, to provide the population with quality health care services, and to maximize the extent of the population covered. However, it is noteworthy that the financial expenditure of these governmental agencies has crossed the budget set by the government. This document has discussed the current financial health status of the United States and the future sustainability of Medicare.

Discussion

Medicare

Medicare is a governmental program which covers the social insurance and started by the United States government in 1965. Medicare holds the prime responsibility of providing all individuals and equal health care access and providence of quality health care services by the most professional experts. Medicare also incorporates the research related to the prevalence of a disease, the population at risk, and the expected financial expenditure on the disease. It covers the hospital patients, as well as the out patients, ensuring all of these individuals receive the best available treatment in lowest possible cost.

Current financial health

Unfortunately, even though a number of measures are taken to control the financial expenditure of the organization, yet it has crossed the governmental budget enormously. Currently Medicare is going through the financial crisis that might be detrimental in the future. A report of 2010 clearly indicated that Medicare is going through the financial crisis, due to rapid growth in costs than the available assets (Peter ...