Question

The Institute of Medicine and the National Academy of Medicine have stated that about 1/3 of healthcare spending is considered wasted. What areas of wasted spending were included in the article?

Answer 1

The areas of wasted spending in healthcare include inefficient administrative costs, unnecessary medical procedures and tests, and high prices for prescription drugs and medical equipment.

Step-by-step explanation:

The areas of wasted spending in healthcare that were included in the article are not explicitly mentioned. However, based on the information provided in the question, we can infer some potential areas of wasted spending. One area could be inefficient administrative costs, such as redundant paperwork and excessive bureaucracy. Another area could be unnecessary medical procedures and tests, which can drive up costs without improving patient outcomes. Additionally, high prices for prescription drugs and medical equipment could also contribute to wasted spending.