Total health care spending in the United States is expected to reach $4.8 trillion in 2021, up from $2.6 trillion in 2010 and $75 billion in 1970. To put it in context, this means that health care spending will account for nearly 20 percent of gross domestic product (GDP), or one-fifth of the U.S. economy, by 2021.
Health care spending in the United States totaled nearly $2.6 trillion in 2010. Of total spending, half (51 percent) goes to pay the cost of medical services provided by hospitals and physicians. Prescription drugs spending accounts for 10 percent. While prescription drug costs represent a significant portion of overall health spending, this is one area where there has been some recent success in slowing the growth in spending. From 2009 to 2010, prescription drug costs grew by just 1.2 percent while hospital and physician costs grew by 4.9 percent.
Of the average total cost of medical procedures and our healthcare infrastructure, the device cost only represents 6% of the total cost. At IASO we recognize the need to be more creative, innovative, and considerate of the total cost.
Therefore, bringing top quality medical devices to market that have an innovative and beneficial impact on the medical community and it's patients is our goal.
We are dedicated to making unique and worthy contributions that sustain the growth of what we consider to be one of the most important responsibilities;
"Advancing medical capabilities that lower the total cost of healthcare"
L.Weijers - CEO IASO Medical
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