CMS report: Healthcare spending continued to slow in 2004
Patient Financial Services Weekly Advisor, January 13, 2006
Healthcare spending in the United States slowed for a second straight year in 2004, according to a Centers for Medicare and Medicaid Services report released on Tuesday.
Spending in 2004 rose just 7.9% from 8.2% growth in 2003 and 9.1% in 2002.
"While the growth rate is declining, the cost of healthcare continues to be a concern for government, business, individuals, and families," said Mike Leavitt, the director of the Department of Health & Human Services.
Healthcare spending was $1.9 trillion in 2004, or $6,280 per person.
Private spending slowed to 7.6% in 2004 compared with 8.6% in 2003. Out-of-pocket payment rose to 5.5% in 2004.
Federal, state, and local government spending for healthcare rose 8.2% in 2004.
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