Thursday, November 3, 2016
People in the US are spending more on pets care
American spending on pet's health care are rising, according to a recent study from the National Bureau of Economic Research. According to the study, the U.S. health-care system is “uniquely inefficient” since it is plagued by high costs and poor health outcomes compared to other developed countries.
Although there are plenty of reasons why this might be, they write, it’s often blamed on an insurance industry that shields customers from decisions about costs, and government regulation and reimbursement that give the industry little reason to make itself more efficient.
The study found that spending cost on pet purchases, medical supplies and veterinary visit have mirrored the human health-care spending closely. It is up by 60% for pet health care from 1996 to 2012, and 50% for people.
Also the supply in physicians grew significantly faster than in other sectors it grew about 40%, while the supply in veterinarians nearly doubled. Physician-related establishments and veterinary-related establishments grew at similar rates, and more quickly than did other kinds of establishments.