Article Analysis: Medical Spending Of the US Elderly
Examining Evidence
According to Lassman et al. (2014), patients aged between 70 and 90 incur substantially high expenses when seeking health care services. It is evident that most of the patients experience a constant cost of medical
services throughout their lives. It is also apparent that medical cost for the rich people is much covered compared to the poor who uses more than the allocated funds. Also, the cost of death might be significant but
contributing less to the total expenses.
Determining Findings
The research found out that, the home nursing department funded more than double of the medical expenditure. The funds were collected from the patients who were seventy to ninety years old as they often fell ill (Nardi
et al., 2014). About 10% of the spenders are answerable for their medical expenditures of a particular financial year as medical spending are almost similar to each patient.
The study also found that most of the physician who spends little or who spends a lot might find themselves stuck on the same level in the future. The information was the same from all the samples collected as the
risk of massive hospital expenditures, that took place once tend to occur now and then. Pashchenko & Porapakkarm (2016) support the finding by stating that self-insurance is expensive for users especially when there is conflict in private insurance market.
Forming Conclusion
It is evident that more than 50% of the health care spending is funded by patients aged between 70 to 90 years who are the vast population attended to daily. The first ten who have incurred the highest spending are
answerable for more than 50% of the total medical expenditure in a financial year. On the other hand, most of the people will spend a relatively same amount when seeking health care services in the future. Also, the poor spends more on medical services than those who are economically stable as their expenses are widely covered by the government. Lastly, even if the cost of medical before death is high, it counts less in the total spending making it less useful to the medical expenditure funding (Cheng et al., 2015).
Exploring the Significance of the Findings
The results will help the government to balance the distribution of medical funds among the elderly. Moreover, the findings depict the need for the government to increase health care funding and introduce health care
financing policies designed specifically for the elders. The findings will also give the general population an insight on the cost of health care services for the elderly and thus, enabling them to plan accordingly.
Generalizing Findings
In general, 50% of the medical expenditure is funded by …
