Population aging in the US and its economic effects on the nation (original, high-quality) - 77654

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Population aging in the US and its economic effects on the nation

The US population median age is increasing today as the boomers are getting old. In 2012, 62.8 percent of the U.S. population was aged 18 to 64. By 2030, as the baby boomers age, the proportions in these working ages will drop to 57.3 percent.[1]

The economic effects on the healthcare industry due to this population aging will be considerable. First of all, the existing infrastructure will not be sufficient. New hospitals should be planned now so that more people with old age health problems can be treated. However, even with new hospitals alone, it will be unrealistic to assume that healthcare delivery is fully effective. With increasing consumerism, healthcare will soon evolve into a system which will support house visits. Secondly, a shortage of physicians for basic healthcare services is envisaged, especially in small rural towns. Planning to different extents may be required in imparting medical education in America.

Finally with the ACA looming over the horizon, there has been criticism that healthcare standards will fall as overall healthcare will become costlier. It is not necessary that this will happen. If healthcare delivery efficiencies increase, healthcare standards has the potential to rise, at the same costs.

 

[1]Sourced from the US Census Bureau, 2012 Population Estimates and 2012 National Projections.