HEALTHCARE ECONOMICS
From the way things are, 15 of the nations gross domestic product is too much to spend on medical care. Put in another way, 15 of the countrys GDP is being spent on a program that does not really benefit all those who are intended to be at its receiving end. The fact that the governments medical care program has stringent requirements and qualifications set signifies that those who are technically unqualified but are in fact in dire need of medical care will not be getting the help from the government. Instead of taking 15 from the nations GDP and spending it solely on medical care, the federal government should reapportion a fraction of the sum it derives from such rate into other uses.
The concept of opportunity cost is applicable in this case. In a nutshell, the concept espouses the idea that there are other benefits that can be obtained if other options are chosen. In this case, there are other benefits that can be gained if the government decides to spend a portion of the 15 allocated to medical care to other programs. For example, at least a quarter of the 15 can be redirected to the education programs of the federal government. Another quarter of the same budget can be allocated for national security through the law enforcing bodies. In doing so, there are more benefits readily attainable as opposed to singularly focusing all 15 of the nations GDP to medical care. That is, a larger segment of the public will benefit from the reapportionment of a fraction of the governments resources. This is not to say, however, that the government should abandon altogether its efforts to provide medical care. Rather, what is simply intended is to have better spending in terms of budget realignment in order to achieve the maximum opportunity given a limited annual budget taken from the GDP.
Nevertheless, it is important to remember that the quality of life of the public remains an integral part of the governments lookout. However, it should also be remembered that medical care is only one aspect of the governments larger scheme in serving the people.