The mean of the chief industrial nations of the world, leaving out the United States since it is such a gross outlier, spend 9.4% of their gross domestic product (GDP) on health care. Yet, bottom line they have much better health care results for its citizens than the U.S. Eyeballing it, the only significant reasons for this is that the averages of these nations have a single payer health care system payer and have a no fault national tort system. The U.S. has neither. If the Congress of our Country would rescue its citizens in this battle for an updated health care system as regarding these co-modalities, then the U.S. should be able to join the other industrialized countries of the world and experience a terrific upgrading for its citizens in health care with it then spending but 9,4% of GDP. Per Wikipedia the U.S. spent 15.3% of GDP on health care in 2006 and is projected to spend 19.5% of its GDP by 2017.
The author Gerald J. Brown MD writes. So from 2006 to 2017, about a decade, the U.S. would be then able to spend less than half the GDP that it is presently spending and join the other leading industrialized nations and experience terrific betterments in heath care! The GDP of the U.S. is presently $.2.5 trillion ($2.500,000,000,000). 9.4% of this GDP spent on health care is $235 billon ($235,000,000,000). 19.5% of the same GDP is $487.5 billion ($487,500,000,000). Thus $252.5 billion could be saved, yearly, on health care spending, figured in today’s dollars and if this were adjusted for a .025% yearly inflation, in 2017 dollars a signifcant more would be shown to have been saved. Then, it could be set aside the two tiered, or really multi-tiered, health care being setup for the country.