Compare the single payer system and multi payer system

In the united state, the increasing cost of healthcare becomes the major social issue that face by the people of the united state. A single payer health care system is the one of the most popular proposed solution for transitioning. American are widely used this proposition. It is also explain that the current system has less benefits and high drawbacks. It creates efficiency and reduces the cost. Single payer system can be used in many other countries as well. Single payer health insurance system is a system that organizes by single public agency for health care financing and at private and public level they deliver the care facilities. Under a single payer system, every American covered under the same insurance plan. Government is completely responsible for the collection and reimbursement of the funds under this system. Funding can be obtained from the increase in the tax ratio and also from Medicare and Medicaid. The people are paying fewer taxes through premium reduction and spending which is out of pocket.

 Many countries have selected the insurance system between single payer or multi payers. Both systems have their own benefits which are priorities according to country policies. The single payer system work more progresseively and depends on the current taxation system and financed properly. On one large risk pool, it effectively distributed the risk throughout. And also provide a high degree of control to the government related to health sector. Multi payer system lost this control because they also follow the diverse preferences of beneficiaries at great ability.

Multi payer system means a system where more than one person is responsible for the insurance of health it means in this insurance system, it cover the group of people and their health care issues. All material, procedures, and health related services are completely belonging to this system. The health care system requires covering the costs for multiple payers. (Hrubes, n.d.)

Here we are going to discuss the pros and cons of single and multi payer system.

Single payer system:

Pros: the single payer system is cheap and efficient. The payer sets the prices, which are limited, provided but on demand we can use sufficient resources according to insurance system. The primary objective of the medical entity to utilize all the funding that they obtain for saving the lives of entities. They try to minimize the overhead costs and provide better facilities to their users. With the least amount of money and limited resources, they provide greatest number of services to their users because of paying rules or uniform pricing.

Cons: the single payer system have disadvantage of slow and average quality. Where the primary objective is not to earn the profit and just like other government funded entity, these system provide very slow services. In many cases, they wait many months to visits the doctor because of limited resources. And priority is given to those who need urgent treatment. So it would be consider very slow services that are received by the entities that use these insurance policies. In comparison of multi payer system, where to those who can afford provided high quality care is rewarded. In this system every entity receives the care services but the quality of the services is average whereas the health care is the human right.

Multi payer system:

Pros: the multi payer system includes fast, freedom and high quality and innovation benefits. Competitions between entities growth drives that moves to a better treatment option and better usage of technology. If a patient has sufficient money then he can remove the waiting lines and immediately get the best treatment from the world because health care’s the privilege for every person. Government allows freedom instead of rules and regulations in strategy, management and medical practice. This also makes the staff more happy and satisfied.

Cons: the drawback of system include inefficient and ineffective and expensive. Money is going to used just like water and very high quality services are going to provided that show that how much good insurance you are going to take. And with this the main objective of the management is to earn more and more profit rather to help the people and show loyalty with their treatment and working. Those who pay money are not concerned about the payment of many so patients are not concerned how much cost they are going to pay for the services they are received for the medical treatment. Hospitals may charge high costs for their best treatment because they know they have high insurance amount to pay and also want expensive treatment for their health. (Yvonne Chou, n.d.)

To summarize, the multi payer system provide excellent , incredible and best health care services for all those patients who have enough money to spend on their treatment and can afford all type of expensive treatment. At the low equity and high cost of expense. At the expense of speed and quality, the single payer system provides decent care to every person in most effective manner.

These two systems are providing health care benefits to different groups of people according to their capacity. Every one belong to different income group and every one want to avail best healthcare services according to its need so it’s the responsibility of the government to provide best services to all the group of people and cure their disease on time .

 Reference of Possession paper

Hrubes, B., n.d. Single-Payer vs. Multi-Payer; Why We Need to Switch. [Online]
Available at: https://medium.com/@blakehrubes/a-single-payer-healthcare-system-will-benefit-the-american-people-48f7112e75c9
[Accessed 28 july 2016].

Yvonne Chou, n.d. What are the pros and cons of multi-payer vs. single-payer healthcare?. [Online]
Available at: https://www.quora.com/What-are-the-pros-and-cons-of-multi-payer-vs-single-payer-healthcare
[Accessed 29 jan 2018].