U.S. health care spending on the rise
Compliance Monitor, January 14, 2004
Want to receive articles like this one in your inbox? Subscribe to Compliance Monitor!
U.S. health care spending hit $1.6 trillion in 2002, up from $1.4 trillion in 2001 and $1.3 trillion in 2000, according to a report issued Jan. 8 by the Centers for Medicare & Medicaid Services (CMS).
The growth rate of 9.3% for 2002, compared to 8.5% in 2001, marked the sixth consecutive year that health spending increased. Health expenditures per person averaged $5,440 in 2002, up $419 from $5,021 in 2001. In 2000, per person spending was $4,670.
In 2002, health spending grew 5.7 percentage points faster than the overall economy as measured by growth of the gross domestic product (GDP)-the total value of U.S.-produced goods and services. The health care share of GDP increased to 14.1% in 2001 and 14.9% in 2002, according to an article that appeared last week in the journal Health Affairs.
Prescription drug spending made the highest jump in personal health care expenditures, with a 15.3% increase in 2002: $162.4 billion, compared with $140.8 billion in 2001.
To view the contents of the entire CMS release, click here.
Want to receive articles like this one in your inbox? Subscribe to Compliance Monitor!
Related Products
-
Strategies for Health Care Compliance
News and real-life examples to increase the effectiveness of your compliance program. Strategies for Health Care Compliance...
-
Compliance Monitor
This HTML e-mail newsletter delivers news on Medicare and Medicaid fraud and abuse, as well as recent documents and targets...
-
Medicare Weekly Update
Each issue of Medicare Weekly Update includes the latest CMS proposed and final rules, CMS manual revisions, and...
-
Medicare Update for Physician Services
Medicare Update for Physician Services is a free, monthly e-zine that delivers news and information to help physician...
Most Popular
- Articles
-
- Q/A: Volume requirement for reporting hydration services
- Featured blog post: Nurses face felony charges after reporting physician to the Texas Medical Board
- HIPAA Q&A: Level of encryption needed for email
- Catch up on what's new with injections and infusions
- Identify potential Medicaid RAC target areas
- Topic: CMS, OESS post new security compliance review information, checklist
- Capturing all necessary codes for IUD insertion and removal can be challenging
- What does case-mix index mean to you?
- OB services: Coding inside and outside of the package
- QA:Coding multiple initial infusions
- E-mailed
-
- Q/A: Volume requirement for reporting hydration services
- Featured blog post: Nurses face felony charges after reporting physician to the Texas Medical Board
- HIPAA Q&A: Level of encryption needed for email
- CMS has reformulated payments for some bilateral procedures
- Q&A: Follow CMS' coding guidelines when using modifier -25
- What does case-mix index mean to you?
- Catch up on what's new with injections and infusions
- New conflicts of interest create new challenges
- Q/A. One injection code or two?
- Cohesive History and Physical Requirements
- Searched