The United States Has Almost 60% Higher Hospital Revenue and 4x Slower Healthcare Service than Europe

September 27, 8:34 am

As the world`s biggest insurance spenders, Americans will cash out an average of $13,500 on insurance in 2024, seven times more than Europeans and almost thirty times more than Asians. Health insurance makes most of that value, once again proving the United States as a country with the costliest healthcare system in the world. However, despite the high price Americans pay for health services and the gigantic revenue US hospitals gross each year, the average waiting time for a GP appointment in the United States is much longer than in Europe.

According to data presented by AltIndex.com, the United States has almost 60% higher hospital revenue and four times slower healthcare services than Europe.

Americans Spend $13,500 on Health Insurance to Wait an Average of 21 Days for a GP Appointment

Although the United States has some of the most advanced medical technology and highly trained professionals, high administrative costs, a complex insurance system, and lack of price controls have turned it into a country with the highest medical service prices, from prescription drugs to hospital stays. The US healthcare spending per capita is much higher than in other countries, but so is the average waiting time for a doctor`s appointment.

According to a recent study by the Consumer Choice Center, the average wait for a general practitioner`s appointment in the United States was around three weeks last year, four times longer than the European average of five days. In some European countries, the difference was even bigger. For example, the average waiting time for a medical consultation in Switzerland was two days, the least among the surveyed countries. French had to wait an average of six days to get a GP appointment, while in Italy and the United Kingdom, it was four days more.

The average waiting time for non-emergency surgeries showed a different trend. According to the survey, the average waiting time was lowest in the United States and Switzerland, 28 days. In the US case, that primarily concerns the high cost of healthcare, which means not everyone can afford elective surgeries, even with insurance. On the other hand, France and Spain had the longest average waiting time for non-emergency surgeries of 63 and 77 days, respectively.

US Hospital Revenue will Grow by Almost 20% and hit $1.78 Trillion by the End of a Decade

Despite lagging behind Europe in terms of healthcare service speed, the United States remains the single largest contributor to global hospital revenue. According to a Statista Market Forecast, the US hospital market will generate $1.5 trillion in revenue in 2024, or more than one-third of the world`s total. This figure is expected to grow by almost 20% and hit $1.78 trillion by 2028.

The US hospital revenue is even more shocking when compared to the European market. Statistics show European hospitals will gross $960 billion this year, or nearly 60% less than those in the United States.

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