Brief

Healthcare spending accounts for 18.2% of GDP

Dive Brief:

  • A recently released Altarum Institute report found in July healthcare spending accounted for 18.2% of the U.S. gross domestic product, Modern Healthcare reports.
  • Such spending was an increase from 17.7% of GDP spending at the same time in 2014. The spending increase was attributed in part to increased spending on prescription drugs and health insurance administration.
  • Spending on prescription drugs and insurance administration could increase healthcare spending to rise “at the highest rates before the recent economic recession,” reports American Healthline

Dive Insight:

In addition, the report found healthcare spending reached $3.3 trillion in August. During that time, spending on prescription drugs increased by 9.2%.

In addition, the report found hospital spending increased by 6.1% from 2014 to $1.04 trillion as well as physician and outpatient clinic spending increasing by 5% to $650.1 billion. 

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Filed Under: Hospital Administration