1. The effect of the aging population in escalating health care costs can be due to the impact of aging on hospitalization costs which is far greater than that of the younger population as the aged suffer from form chronic conditions more and require frequent hospitalizations and in-home care services.
2. The factors that affect the healthcare industry and necessitate the need for health economics is a high prevalence of chronic diseases in the population of the USA due to obesity, improper diet and lack of physical exercise. The burden of chronic diseases such as diabetes and cardiovascular diseases is very high in the USA. The projected rise in the older age group's share of the total population to nearly 24 percent from 15 percent is going to add to the burden of chronic diseases. The high cost of health care is another that needs to be addressed.
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