Medical Costs Over the Long Run: 1850-2050

Altarum Blog Getzen, December 2014

8 Pages Posted: 26 Dec 2014

See all articles by Thomas E. Getzen

Thomas E. Getzen

Temple University - Dept of Risk, Insurance & Health Management

Date Written: December 25, 2014

Abstract

The creation of modern medicine was both costly and valuable, raising spending (from 4% of GDP to 15%) and longevity (from 47 to 78 years) during the last century. Examination of events over 10 or 20 years is not sufficient to understand a “medical transformation” that arose from a demographic transition and industrial revolution that took centuries to unfold, nor to forecast the likely path of spending over the next 50 years.

Keywords: Health Spending, Development, Forecasting

JEL Classification: I1; J11; N00; O3

Suggested Citation

Getzen, Thomas E., Medical Costs Over the Long Run: 1850-2050 (December 25, 2014). Altarum Blog Getzen, December 2014, Available at SSRN: https://ssrn.com/abstract=2542860

Thomas E. Getzen (Contact Author)

Temple University - Dept of Risk, Insurance & Health Management ( email )

712 Cornelia Place
Philadelphia, PA 19118
United States
215 688-2233 (Phone)

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