The above are the medical costs for 2017, totaling $3.5 trillion or about $10,500 per person per year. See CMS report.
Some observations:
1. Hospital care is still almost 50%. This means a lot of time in beds. Perhaps new therapeutics can remedy this.
2. Physician care is next but that includes all clinical services. This is about $700 billion but give there are about 700,000 physicians that is $1 million per physician. Just a back of the envelope number. But that is gross and since physicians have now had to add half a dozen staff to meet ACA burdens this leaves less and less for physician salaries.
3. Drugs is thirds at about $350 billion. Now this can explode with new therapeutics but one suspects it will reduce hospitalizations.
4. Home nursing and nursing home care is almost $350 billion but this may explode as Baby Boomers age.
Perhaps New York should look at this again. This CMS report is useful.
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