Healthcare spending slowing down
Patient Financial Services Weekly Advisor, June 11, 2004
Healthcare spending per privately insured American increased only 7.4% in 2003, which translates into the first major slowdown in spending growth in nearly 10 years, according to a study by the Center for Studying Health System Change.
Although still high by historical standards, growth in healthcare spending slowed for the second year in a row, down from 9.5% in 2002 and 10% in 2001.
Trends in all four spending categories-inpatient and outpatient hospital care, prescription drugs, and physician services-continued to slow in 2003, the study determined.
The decline in spending has slowed growth in employer-sponsored health insurance premiums to an average of 12% in 2004, marking the first slowdown in premium growth since 1996.
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