The average American spends more on healthcare as compared to residents in all other countries. The US health spending is growing at a significantly rapid rate relative to the national GDP. On October 4, The Commonwealth Fund reported that the US pays more in administrative costs of insurance and prescription drugs. American physicians and nurses also tend to earn more. All of these factors contribute to the excess spending on healthcare. The prices for branded drugs are higher which accounts for 80% of prescription drug expenditures in the country. The excess US spending ultimately gets reflected in higher prices for the public. Hospital care also adds to the healthcare costs as prices for inpatient services continue to be on the rise in the US.
