Health sectors use Cost-Benefit Analysis (CBA) to develop comparisons among the possible causes of actions through the identification of costs and benefits. Its use results in serious questions by nationalized health care such as soaring healthcare costs in Medicare and Medicaid. The approach causes an increase in the cost of health care access. Monetary evaluation through a willingness-to-pay technique difficultly compares the monetary benefits with the health results. The low-income earners find it harder to access better health services through the use of cost-benefit analysis because some are unable to pay for the services as a result of high cost rising from CBA. Nationalized health care policy reduces the cost of health services through insurance cover by assisting individuals with little funds such as old persons and physically challenged people. Nevertheless, the incorporation of CBA escalates the cost of medical acquisition hence making life more difficult for them leading to inadequate treatment.
Besides, nationalized health care questions the use of CBA in health economics because of the potential inaccuracies in classifying and measuring cost and benefits of data. The willingness-to-pay method of obtaining values of human life may easily be influenced by levels of income hence causing a continuous process that deteriorates the health system of the nation. Equally, the approach needs that entire costs and benefits to be identified and properly measured but the human inaccuracies do result in common benefit analysis errors like the accidental omission of costs and benefits because of failure to estimate indirect causal relationships. The problem provides erroneous results hence confusing the whole process that causes inadequate medical provisions. Finally, inaccurate computation of present figures ends in misleading analyses even in the future. The health care approach estimates costs and benefits for a long time. The current estimate equalizes both recent and future costs and benefits. In conclusion, nationalized health care concerns about the use of CBA are critical due to health care increase of cost and inaccurate measures of cost and benefit.
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