Keckley Report December 23, 2024
Last Wednesday, the Center for Medicare and Medicaid Services (CMS) released its National Health Expenditures (NHE) Report for 2023. Media headlines focused on these results:
- NHE grew 7.5% to $4.9 trillion in 2023 to $14,570 per person and 17.6% of Gross Domestic Product (GDP). The GDP grew 6.1% in the same period.
- From 2022 to 2023, Medicare spending grew 8.1% to $1,029.8 billion or 21% of total NHE. Medicaid spending grew 7.9% to $871.7 billion or 18% of total NHE. Private health insurance spending grew 11.5% to $1,464.6 billion or 30% of total NHE. Out of pocket spending grew 7.2% to $505.7 billion or 10% of total NHE.
- From 2022 to 2023, hospital expenditures grew 10.4% to $1,519.7 billion...
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