What caused the healthcare cost crisis?
THERE IS NO SINGLE CAUSE OF HEALTHCARE COST GROWTH IN NEW HAMPSHIRE
The crisis is driven by multiple factors, including:
Rising prices for medical services and medications
Hospital mergers
Administrative inefficiencies
A lack of transparency in billing practices
A shortage of healthcare workers
An aging population needing more extensive and more expensive care
Similar trends are seen across the United States, where the fee-for-service model encourages unnecessary tests and procedures and the consolidation of hospitals and healthcare providers reduces competition. Insurance complexities and the burden of chronic diseases further exacerbate the situation, making healthcare increasingly unaffordable for many Americans.
Despite increased spending, health outcomes are not improving. Neither employers nor individuals can afford the skyrocketing costs, which overwhelm other priorities for families, business owners, and the state government. And while other states have taken steps to control rising costs with some success, efforts in New Hampshire have been limited. Our state faces a situation that requires urgent action.