The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
Top Healthcare Costs
In many countries, an incredible rise in health care expenditure has been noticed since 1980. It increased faster than the economic growth in the late 1990s and early 2000s, but due to recession in 2009, this rising chart went down slowly. In a recent survey, it has been found that countries spend between 8.9% and 16.4% of their total gross domestic product (GDP) on health care which is considerably a large amount.
Based on “Health at a Glance 2015” from the Organization for Economic Co-operation and Development (OECD), 24/7 Wall St. analyzed annual per capita health care expenditures in countries around the world. The health care spending covers a wide range of areas which includes medical practitioner salaries, costly medical procedures, pharmaceutical products and hospital administration.
Head of the health division at the OECD Francesca Colombo quoted “Higher health sector prices explain much of the difference between the U.S. and other high-spending countries.”
Here is an interactive Storymap explaining 10 countries that are spending the most on health care.