30 Second Insurance Tips©

Tip #340- Health Care: Does The Law Of Supply And Demand Apply?

As regular Tips readers know, I spend a fair amount of time on the Kaiser Family Foundation website.
In a recent visit I decided to see if there is a correlation between the number of hospital beds per 1,000 residents and the per capita dollars spent on health care by state. (Sorry, I’m just not into fantasy football.)
First, let’s look at the number of hospital beds per 1,000 residents. The average across the U.S. is 2.4. Wisconsin is at 2.1. The highest is the District of Columbia (5.3). I would have guessed Florida (2.6). The lowest; Oregon and Washington (tied at 1.7). Source chart here.
Now let’s look at per capita health care spending; the annual average across the U.S is $8,045. Wisconsin comes in at $8,702. The highest (again) is the District of Columbia ($11,944) followed by Alaska ($11,064). The lowest is Utah ($5,982), and then Arizona ($6,452). Source chart here.
What to make of all this? Hey, it’s outside of my pay grade (also reported by Kaiser here)!