Everyone is experiencing increased cost for doctor’s fees, prescription drugs etc. These double digit annual increases have been met with major concern globally. Listed below are some reasons as to why these costs are rising significantly:

  1. Expensive new medical technology for diagnosis and treatment
  2. Medical professionals go to great lengths to save lives
  3. Inflation
  4. Drugs require higher research, development, and testing
  5. Fewer hospital admissions means costs must be spread over fewer patients
  6. Host of social ills drive up costs
  7. Government is paying a smaller share of Medicare and Medicaid
  8. Uncompensated care due to people who can’t or won’t pay
  9. Cost is higher to treat an aging population
  10. Chronic illness such as aids or cancer is expensive
  11. Patients take legal action against doctors