Healthcare Spending Grows to $2.5 Trillion in 2009
Healthcare spending is up another 4% in 2009 to $2.5 trillion based upon data from the Centers for Medicare & Medicaid Services (CMS) Office of the Actuary. The increase of approximately $8,000 per person is the slowest growth rate in the 50-year history of the National Health Expenditure Accounts (NHEA). The recession has led to slower growth in private health insurance expenditures and out-of-pocket spending by consumers, and to a reduction in capital investments. Despite the slowdown, health care spending growth continued to outpace overall economic growth, which declined 1.7 percent in 2009 as measured by nominal Gross Domestic Product (GDP). Some interesting data from the reports includes:
- Hospital spending increased 5.1 percent to $759.1 billion in 2009 compared to 5.2 percent growth in 2008.
- Physician and clinical services spending increased 4.0 percent in 2009 to $505.9 billion, a deceleration from 5.2 percent growth in 2008.
- Spending for freestanding nursing care facilities and continuing care retirement communities increased 3.1 percent in 2009 to $137.0 billion, a deceleration from growth of 5.0 percent in 2008.
- Spending for home health care services provided by freestanding facilities grew 10.0 percent to $68.3 billion following growth of 7.5 percent in 2008.
- Total health care spending by health insurance payers, which includes the Medicare and Medicaid programs, increased 5.1 percent in 2009, a slight deceleration from 5.3 percent growth in 2008.
For the full report, visit National Health Expenditure Data
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Category: Government Programs, Home Healthcare, Medicare and Medicaid, Nursing Homes
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