From the article by Christopher Ingraham on the World Economic Forum Website:
Is the money we’re spending on health care keeping us alive?
On a certain level, that’s the big test of any health-care system — and the United States is failing.
According to chart below, U.S. life expectancy continues to lag far behind other developed countries, despite spending way more on medical treatments aimed at keeping us alive.
The chart, courtesy of Oxford economist Max Roser, plots per-capita health-care spending against life expectancy for the world’s wealthiest countries over the past 40-plus years. Each country gets one line, which plots its trajectory on those measures over time.
Looking at the chart, two things become clear: As Roser notes, the big takeaway is that, in wealthy countries, more spending on health leads to a longer life expectancy.
But there’s a secondary finding: Not all health-care spending is created equal. In the United States, the inflation-adjusted per-capita annual health spending has exploded from 1970, when it was less than $500 a year, to 2014, when it was about $9,000 a year.
That’s $2,000 more per person per year than the second highest-spending country on the chart, Switzerland. But despite that big spending, growth in American life expectancy has been anemic. Essentially, we spend a lot of money but haven’t seen much in the way of life expectancy gains because of it.
Read the full article.