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WASHINGTON — Medicare is wasting more than $8 billion on an experimental program that rewards providers of mediocre health care and is unlikely to produce useful results, federal investigators say in a new report.
In an age of rising healthcare costs, most high-income countries – Canada, the European Union's western economies, and Japan – manage to keep their total healthcare costs below 12% of GDP, with excellent health outcomes, while the US spends nearly 18% of GDP, yet with decidedly mediocre health outcomes.
It costs about twice as much as in most other developed countries, but compared to them manages to produce only mediocre health outcomes.
Many studies show that America's spending on health care is soaring, yet its medical outcomes remain mediocre.
Mediocre hotels and restaurants.
To the Editor: The financial turnaround of mediocre or failing health care systems follows the same invariable rules.
While access to care is "generally good" the quality of care in the UK is "poor to mediocre" across several key health areas, obesity levels are "dire" and the NHS struggles to get even the "basics" right, the report said citing a lack of investment over the last six years.
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