Healthcare spending accounts for 18.2% of GDP
- 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.
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.
- American Healthline Report: U.S. health care spending reaches 18.2% of GDP
- Modern Healthcare Drugs, insurance costs drive healthcare spending higher
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