Tag: U.S. Health Care Spending

By Ross Mason The United States spent $2.4 trillion on health care in 2011. If that represented a country, it would be the world’s sixth-largest economy. Health care accounted for more than 17.3 percent of the U.S. gross domestic product (GDP) in 2010, a larger share of GDP than any other developed nation. “Moore’s Law,” which states that “computing capacity will double every 18 months” on smaller, cheaper processing platforms for larger and larger markets, was the driving force behind U.S. global IT dominance. By contrast, health care seems to be driven by “Moron’s Law.” Costs have been increasing over 18 percent each year – year after year – without corresponding improvements in quality, access or outcomes. To remain globally… View Article

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