Impact of Policy and Health Care Financing
One of the main advantages of single-payer medicine is stopping wastage. Single-payer medicine makes it easy to set up the administration of health financing in that one agency will handle all financing related to health and give everyone the same benefits. The establishment of a single-payer system of healthcare financing, therefore, ensures that no money is wasted on underwriting, marketing, and administration of different insurance plans (D’Angelo et al., 2022). Significant cost savings are therefore realized in that healthcare professionals no longer have to deal with so many different rules, plans, and forms. Single-payer medicine, therefore, eliminates healthcare-related costs associated with administration, marketing, and paperwork in the insurance industry (Markowitz & McLeod-Sordjan, 2021).
On the other hand, the main disadvantages of single-payer medicine include longer wait times the access healthcare services such as elective procedures. The single-payer healthcare system contributes to funds being focused on essential healthcare services for a given population which can eventually lead to abandoning certain services (Tracy & O’Grady, 2018).
The barriers that exist to having a universal health care system in the US include the significant costs associated with such a system. The introduction of the universal healthcare system would impose significant costs on the Federal Government, which would eventually be forced to raise taxes to cover such costs (Mason et al., 2020). The potential for a general system inefficiency is also a significant barrier to the introduction of the universal health care system in the US. Inefficiency can therefore contribute to longer wait times and medical innovation and entrepreneurship (Tracy & O’Grady, 2018).

The barriers to universal health care in the US can be overcome through effective sensitization of the public and policymakers on the benefits of such a system. A clear understanding across the public of the benefits of the universal healthcare system can therefore increase the support of such a system (Markowitz & McLeod-Sordjan, 2021).

References
D’Angelo, A. B., Bacchus, E. C., & Tsui, E. K. (2022). Advocating for a single-payer healthcare system: What is the role of public health academics? SSM – Qualitative Research in Health, 2, 100106. https://doi.org/10.1016/j.ssmqr.2022.100106
Markowitz, W., & McLeod-Sordjan, R. (2021). Values-Based Foundation for a US Single Payer Health System Model. Frontiers in Sociology, 6. https://doi.org/10.3389/fsoc.2021.627560
Mason, D. J., Perez, A., McLemore, M. R., & Dickson, E. (2020). Policy & politics in
nursing and health care – e-book(8th ed.). Elsevier Health Sciences. Ch 14, 15, 16 ,17 & 31.
Tracy, M. F., & O’Grady, E. T. (2018). Hamric & hanson’s advanced practice nursing –
e-book (6th ed.). Elsevier Health Sciences. Ch 21.