Relation

Reasons for increased costs in healthcare

1. The makeup of our population is following a trend in which birthrates are decreasing whilst life expectancy is increasing; older people often experience chronic illness which accounts for a large part of the cost increases observed.

2. Advancement in technology such as diagnostic tools, medicine, and medical devices. Although they do contribute to positive health outcomes, they also account for rising costs.

3. Advances in public awareness and health sophistication increase demand for medical care.

4. Finally, inconsistencies in our systems: discontinuities in patient care, inefficiencies in financing and delivery of care, and increased observability of unhealthy lifestyles have all contributed to the issue.

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Updated 2021-11-15

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