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New study ranks Florida No. 22 in money spent on healthcare

In anticipation of the 2020 Presidential election, the topic of healthcare costs has come to the forefront of many political discussions.

In order to address these growing concerns, TheSeniorList recently released a study on Annual Healthcare Spending by State using information from the Healthcare Cost Institute. This study found that healthcare spending in the U.S. has reached about $3.5 trillion per year and makes up 18% of the national gross domestic product. This is a 17% increase since 2013. Additionally, the ratio of healthcare spending to GDP has gone up by 34% since 2000. These numbers point to an undeniable increase in the cost of healthcare when factors like economic change and population increases are taken into account.

This study also found that a large percentage of the U.S. population would rather avoid medical care than get stuck with a hospital bill. Even with insurance, many find that they simply can’t afford the exorbitant fees associated with a surprise emergency medical visit. Some Americans, termed “medical tourists,” even resort to leaving the country in search of affordable healthcare – and this number is expected to increase exponentially in the next decade. Common destinations for medical tourism include South and Central America and the Caribbean.

While some procedures can be found for a fraction of the cost outside of the States, they can vary greatly within the U.S. For instance, the same C-section that costs patients $20,721 in San Francisco, CA goes for just $4,556 in Knoxville, TN.

Healthcare costs include procedures, medication and hospitalization. While most of these costs are associated with professional services like anesthesia, specialist visits and surgical services, spending on prescription drugs nationally has increased by 29% since 2013. Unfortunately for the U.S. population, these numbers are only expected to increase in the coming years.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.