Hospice News December 12, 2023
The nation’s annual health care spend reached $4.5 trillion in 2022, a 4.15 increase, compared to 3.1% the prior year.
The percentages may indicate a step towards normalization after the pandemic years. In 2020, the growth rate was 10.6%, according to a report published in Health Affairs. The report did not contain hospice-specific data.
“In 2022, strong Medicaid and private health insurance spending growth, including a turnaround in the net cost of insurance, was somewhat offset by continued declines in federal spending associated with the COVID-19 pandemic,” the report indicated.
The proportion of health care spending relative to the overall economy was 17.3%, also down from 2020’s rate of 19.5%. Again, the data indicates movement towards normalization. From...
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