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====Cost and Expenditures==== The United States spends more per-capita on healthcare than any other country on Earth. According to the aforementioned study from the American College of Physicians:<blockquote>The United States spends far more per capita on health care than other wealthy countries, and spending is increasing at an unsustainable rate. [...] The pricing of health care goods and services is substantially higher in the United States than in other developed nations. A 2003 analysis of OECD data showed that health care utilization in the United States did not exceed that of other countries, and price was the key driver of spending differences.</blockquote>Much of this excessive cost is due to the enormous inefficiency and bureaucracy of the American system. There is a massive amount of administrative spending in the US, which is due primarily to the fragmented multi-payer nature of the healthcare system. According to the ACP:<blockquote>In large part owing to its pluralistic financing system, the United States spends more on administration of health care than peer countries. One study estimated that in 2012, the United States spent $471 billion on billing and insurance-related costs—$375 billion (80%) more than in a “simplified financing system,” such as Canada's single-payer model. Another study concluded that administrative costs were 31% of total U.S. health care expenditures, nearly double those of Canada.</blockquote>These findings are validated by a study in the ''Journal of the American Medical Association'', which said the following:<blockquote>The fragmented financing system is one of the principal explanations for the high cost of medical care in the United States. A careful consolidation of financing into some form of single-payer system is probably the only feasible solution.<ref>Journal of the American Medical Association | Health Care Spending in the United States and Other High-Income Countries</ref></blockquote>Another study from the same journal says the following:<blockquote>The United States spent approximately twice as much as other high-income countries on medical care, yet utilization rates in the United States were largely similar to those in other nations. Prices of labor and goods, including pharmaceuticals, and administrative costs appeared to be the major drivers of the difference in overall cost between the United States and other high-income countries.</blockquote>According to a 2020 study in the ''Lancet'' (conducted at Yale Medical School), a single-payer system would save an enormous amount of money and (more importantly) lives:<blockquote>Taking into account both the costs of coverage expansion and the savings that would be achieved through the Medicare for All Act, we calculate that a single-payer, universal health-care system is likely to lead to a 13% savings in national health-care expenditure, equivalent to more than US $450 billion annually (based on the value of the US$ in 2017). [...] Furthermore, we estimate that ensuring health-care access for all Americans would save more than 68 000 lives and 1.73 million life-years every year compared with the status quo.<ref>The Lancet | Improving the Prognosis of Health Care in the USA</ref></blockquote>Claims that a single-payer system would be unaffordable are entirely baseless, and contradicted by the overwhelming mass of evidence. A 2020 meta-analysis in ''PLOS Medicine'' found "a high degree of analytic consensus for the fiscal feasibility of a single-payer approach in the US." As they put it:<blockquote>There is near-consensus in these analyses that single-payer would reduce health expenditures while providing high-quality insurance to all US residents. To achieve net savings, single-payer plans rely on simplified billing and negotiated drug price reductions, as well as global budgets to control spending growth over time. Replacing private insurers with a public system is expected to achieve lower net healthcare costs.<ref>PLOS Medicine | Projected Costs of Single-Payer Healthcare Financing in the United States: A Systematic Review of Economic Analyses</ref></blockquote>
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