An Organisation for Economic Co-operation and Development report found healthcare systems around the globe spend a significant portion of their budget on administrative-related costs, with the United States spending more than many other developed countries, according to CNN Money.
Here are four takeaways:
1. In the United States, administrative costs comprise more than 8 percent of total healthcare spending.
2. Comparatively, other healthcare systems around the globe spend an average of nearly 3 percent on such costs
3. The report authors note when governments manage healthcare coverage, administrative costs are "generally lower."
4. Based on these findings, the report authors note governments should work to reduce overall healthcare spending while maintaining optimal patient care.