Scholarly Finance Paper
Socioeconomic Status and Health
Various factors influence health care spending and delivery in hospitals. Health care spending continues to increase annually because of different interacting factors. Socioeconomic factors have a greater effect on health care systems in the nation. Various studies points out that social status and income plays a crucial role in determining the accessibility and usability of health care services (Ahnquist, Wamala, and Lindstrom, 2012, p.2). Socioeconomic determinants of health refer to the circumstances in which people live, where they work, grow up or where they are born.
In this regard, higher social status and income are associated to better health. Therefore, the richest people create a difference in health status with the poorest (Braveman, Egerter, and Williams, 2011, p.4). People with higher socioeconomic level are able to access better physicians and hospitals that guarantee them better services and at appropriate time. In addition, they are in a position to acquire health insurance coverage as compared to the poor (Ahnquist, Wamala, and Lindstrom, 2012, p.3). The insurance cover helps to cater for more efficient and sufficient health care services. In this respect, the rich are assured of better health care relative to the poor.
These factors affect the health of an individual and susceptibility to an illness such as diabetes, which depends on social status and wealth. Due to social economic factors, some people are unable to access cost-effective care for disease prevention, diagnosis, early detection, treatment or care. Most notably, most of these cases occur in developing nations. These factors expose individuals to health risks due to poor diet, harmful use of drugs, and physical inactivity (Braveman, Egerter, and Williams, 2011, p.3). Moreover, individuals with low occupational level, income and education are more likely to die earlier as compared to the rich.
Ahnquist, Wamala, and Lindstrom, (2012) conducted a research on the effect of socioeconomic status on the health of older children in the United States. The research notes that the effect of income on health is higher in older children as compared to younger children