Hospice News June 12, 2024
Inflation and rising health care utilization are driving U.S. health care spending to growth faster than the country’s gross domestic product (GDP).
The nation’s health care spend is projected to reach nearly $5.1 trillion in 2024, up from $4.5 in 2022. This is according to a report in Health Affairs that also projected national health expenditures to reach more than $7.7 trillion by 2032, equal to 19.7% of the anticipated U.S. GDP for that year. During 2023 alone, national health care spending rose an estimated 7.5%. This is a faster rate than the GDP that year, which grew at 6.1%.
“This reflects broad increases in the use of health care, which is associated with an estimated 93.1% of the population...
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