This country’s highest Gross Domestic Product (GDP) is spent on health care. “In 2005, U.S. health care spending increased 6.9 percent to almost $2.0 trillion, or $6,697 per person. This increase was the slowest rate since 1999, when spending rose 6.2 percent. The health care portion of gross domestic product (GDP) was 16.0 percent, slightly higher than the 15.9 percent share in 2004” (Kotler, Shalowitz, & Stevens, 2008, p. 77).
There are several actions that consumers can take to reduce health care costs and health care spending. One way to achieve this is to order “generic” prescription medications instead of name brand prescription medications. “This slower growth was driven by a reduction in prescription drug expenditures, largely due to the increasing use of lower-cost generics. Spending on prescription drugs increased 5.8 percent, to $200.7 billion, well down from the peak increase of18.2 percent noted in 1999” (Kotler, Shalowitz, & Stevens, 2008, p. 77). Additionally, using hospitals for their designated purpose such as true emergencies and specialty treatment can drastically reduce health care costs and spending. Using hospitals instead of a PCP costs more money for consumers in the long run as well as consumers in general to make up for those that do not pay for services due to lack of insurance and/or ability to pay. These are just a few ways to reduce health care spending and costs, but it could reduce overall costs and health care spending drastically for consumers.
Kotler, P., Shalowitz, J., & Stevens, R. J. (2008). Strategic marketing for health care organizations: Building a customer-driven health system. San Francisco, CA: Jossey-Bass.
Week One-Discussion Question Two:
• How do you determine if a...