National Healthcare Spending in the U.S. Was Nearly $5 Trillion (with a “T”) in 2023 – New Data from CMS

Health Populi December 18, 2024
Jane Sarasohn-Kahn

What would $5 trillion be valued around the world or on the stock market?

The economy of Germany was gauged around $5 trillion in 2024.

India could be the world’s 3rd largest economy by 2026 valued at $5 trillion.

Nvidia could be a $5 trillion company in 2025, as could Amazon.

But today we report out the latest data from the Centers for Medicare and Medicaid Services (CMS) that national health spending in America reached $4.9 trillion in 2023. The full report on national health expenditures (NHE) in the U.S. was published today in Health Affairs, which came off embargo at 4 pm.

Here’s a snapshot of the key findings from the annual report on U.S. NHE:

• That health...

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