The current soaring costs of Medicare and Medicaid in the USA are alarming. The government has highly suggested taking the necessary steps to solve this steady growing problem.
According to a healthcare advocate, if the government does not take healthcare seriously, it could be fatal for the economy. Americans aged 60+ will be hardest hit as they have entered the age relating to more consistent medical needs.
Melinda Gates Weighs In
Melinda Gates is the co-chair of the Bill and Melinda Gates Foundation. She is also a prominent philanthropist and author of ‘The Moment of Lift’ has weighed in. Gates says that though America has world-class healthcare facilities they are costly as well. Such sky-high prices are not favorable especially based on the country’s GDP. In her view, such costly medications can harm the economy. Furthermore, people at the age of 60+ will end up spending more money on Medicare and Medicaid.
She and husband, Bill Gates, founder of the Microsoft, are together consciously raising their voice for vaccinations. Melinda is also an expert in assisting people with the use of contraceptives for the correct family planning.
American politicians must support them with the essentials to eradicate this issue before it gets on the nerve of the country’s economy.
The Exorbitant Rates of Medicare
USA will see the GDP growth of Medicare up to 5.9% by 2038 from 3.7% in 2018. This is according to data from the SSA (Social Security Administration). If this happens, then most likely, the government will increase taxes in order to fulfill the requirements. Such expensive Medicare can devastate the whole American economy no matter how the economy performs.
In recent research, Gallup mentioned that in total, the older American population has spent $22 billion on healthcare facilities. This huge amount could have been used for other benefits.
In the end, SSA remarks that despite a substantial decrease in the average healthcare expenditure, medical facilities are still causing problems. These ideals need immediate attention. Leaving this unaddressed could result in poor side effects on the taxpayers, beneficiaries and providers.
New Opportunities For Healthcare Companies
All of these increases in cost of care equate to one thing: Opportunity. When it comes to healthcare technology, there have been few moonshot moments that have dramatically changed the face of the industry. While the healthcare juggernauts work to simply expand their reach with archaic technology, Premier Health Group Inc. (OTC: PHGRF) / (CSE: PHGI) has identified an open opportunity to capitalize on.
Unlike most micro-cap companies, Premier Health Group Inc. (OTC: PHGRF) / (CSE: PHGI) is in the prime position to take a page out of the industry’s leading corporations. What do we mean? Premier Health is hot on the trail of strategic ventures and acquisitions right now.
In addition to one of its bigger deals with Cloud Practice, Premier Health has begun working on a research pilot study with Bio Conscious Technologies (BCT) to deliver their artificial intelligence (AI) powered technology to Premier Health’s patient base.
The research pilot will use data from patients who are using the app and sign up for the study. The data used will include sugar levels, heart rate, blood pressure, age, sex and weight – much of which is collected from the integration of the patient’s health monitoring devices such as their smartwatch. The Diabits tool will then tailor a personalized blood sugar model which the patient can use to guide their nutrition and exercise plan.
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