PYMNTS.com March 2, 2020
Healthcare in the U.S. is a massive industry.
According to the Centers for Medicare and Medicaid, $3.5 trillion — or roughly $11,000 per person — was spent in the U.S. in 2017 on healthcare services. By the year 2027, the expectation is that those costs will have swelled to $6 trillion annually or roughly $17,000 per citizen or 19 percent of the GDP.
There is a lot of value purchased with those trillions — life-saving treatments and medication among them — but as Beth Griffin, vice president-Healthcare, Cyber & Intelligence, Mastercard, noted in a recent PYMNTS Masterclass interview with Karen Webster, a staggering amount of that money is buying nothing at all. Instead, she noted, an estimated $240...
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