LAWRENCE, MA / ACCESSWIRE / October 4, 2017 / "The amount the United States spends on healthcare surpasses every other nation on the planet; all in all accounting for 17% of the economy in the U.S.," declares Frank Magliochetti, founder and managing partner of Parcae Capital. Despite the size and growth of activity in this sector, little is known about how spending on each medical condition shifts by age and across time. Magliochetti discusses a new study published in the Journal of the American Medical Association (JAMA), highlighting developing trends in personal and public health care spending in the United States.
In the study, Joseph L. Dieleman, Ph.D., from the Institute for Health Metrics and Evaluation, University of Washington along with a team of researchers used data sources including government budgets, household and facility surveys, and official U.S. records from 1996 to 2013 in order to estimate national spending. 155 medical conditions from the International Classification of Diseases were considered in the examination. Over the course of the 18 years included in the study, Americans spent $30.1 trillion on personal health care. One of the most interesting findings was that many of the top 20 conditions were preventable chronic illnesses with a relatively high prevalence. An estimated $101 billion was used on treating diabetes, followed by $88 billion on ischemic heart disease and $87 billion on lower back and neck pain.
Of the 155 conditions investigated, expenses on 143 of them increased during the time span studied. Diabetes and lower back and neck pain were the largest risers with spending inflated by $57 and $64 billion, respectively. In addition, over half (57 percent) of the $30.1 trillion was consumed by the top 20 ailments. While the study was limited in that it used population-weighted data to represent total national spending, which excludes incarcerated persons and those receiving care from a Veterans Affairs facility, The University of Washington institutional review board inspected and reviewed the project. Frank Magliochetti believes the information presented in the study will prove useful to health care policy makers and providers working towards a more cost-effective solution for the conditions that most commonly affect people living in the United States.
Frank Magliochetti is the founder and managing partner of Parcae Capital Corporation, a personalized investment banking service for emerging growth companies. A holder of multiple degrees from Suffolk University, Stanford Business School, Northeastern University and Harvard Graduate School of Business, Magliochetti has held senior positions at medical device manufacturer Kontron Instruments, Haemonetics Corporation and Sandoz Pharma North America Operations, as well as constructed a groundbreaking infusion therapy and medicare nursing firm. As the leader of Parcae Capital, Magliochetti focuses on financial restructuring and interim management services for businesses in the healthcare, media and alternative energy sectors.
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SOURCE: Frank Magliochetti