Report: US healthcare spending growth slows to 3.9%

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National healthcare spending grew 3.9% last year to approximately $3.5 trillion, or $10,739 per person, according to a report from The Hill using data recently released by the Trump administration.

The growth is the slowest increase in healthcare spending since 2013, before many parts of the ACA took effect, according to the report. Growth rates for 2016 and 2015 were 4.8% and 5.8%.

Hospital care spending accounted for $1.1 trillion last year, or 33% of overall healthcare spending, while physicians and clinical services increased 4.2% to $694.3 million. Spending on prescription drugs accounted for 10% of overall health spending at $333.4 billion, The Hill reports.

The slowed growth primarily affects hospitals, physicians and clinical services and prescription drugs, according the Centers for Medicare and Medicaid Services.

“In 2017, healthcare spending growth returned to these lower rates and the health spending share of GDP stabilized for the first time since 2013,” CMS Office of the Actuary economist Anne Martin said, according to the report.

Medicare spending grew 4.2% to $705.9 billion in 2017 while Medicaid spending grew to $518.9 billion, The Hill reports.

Out-of-pocket spending clocked in at $365 billion while private health insurance spending hit $1.2 trillion, or 34% of all healthcare spending, according to the report.

The post Report: US healthcare spending growth slows to 3.9% appeared first on MassDevice.

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