Countries Spending The Most On Health Care

The United States currently spends more per person on health care than any other developed country. Health outcomes in the U.S., however, are among the worst.

Despite weak health spending growth worldwide, a number of countries still had substantial health care budgets as of 2012. Based on data released by the Organization for Economic Co-operation and Development (OECD), the U.S. led the developed world in 2012, spending $8,745 per capita on health care. Turkey, by contrast, spent just $984 per capita, the lowest among developed countries. 24/7 Wall St. reviewed the countries spending the most on health care per person in 2012.

According to the report, "Higher health sector prices explain much of the difference between the U.S. and other high-spending countries." Higher health care prices in the U.S. are partly the result of the greater use of medical technology. Another reason is the fragmented insurance system, which does not have a centralized price setting mechanism. By contrast, many European countries — which mostly have a centralized health care system — have placed limits on health care prices, or their growth...