Global medical costs to dip in 2024 — but respite may not last long, research finds

Healthcare DIVE November 29, 2023
Susanna Vogel

Medical costs will continue to rise over the next few years, according to WTW. Surveyed insurers blamed expensive medical technologies and an overuse of health services.

Dive Brief:

• Healthcare insurers could get a slight respite from rising medical costs next year. Global costs are expected to rise 9.9% year over year in 2024, down from a 10.7% increase in 2023, according to a new survey from consultancy WTW released on Tuesday.
• However, that decline might not last long. Nearly three-fifths of insurers surveyed anticipate higher medical cost growth over the next three years as new medical technologies, overuse of care and members’ poor health habits drive increased spend.
• Many insurers told WTW they are leaning on deductibles, contracted provider...

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