Healthcare spending growth rate declined in 2004
Rehab Regs, January 20, 2006
The growth in healthcare spending in the U.S. slowed for the second straight year in 2004, according to a report released last week by the Centers for Medicare & Medicaid Services (CMS). Spending in 2004 rose 7.9%, slower than the 8.2% growth in 2003 and 9.1% growth in 2002.
CMS' Office of the Actuary published the annual report in the journal Health Affairs. It shows that healthcare spending was $1.9 trillion in 2004, or $6,280 per person.
The share of the nation's Gross Domestic Product spent on healthcare grew 0.1% to 16.0% in 2004, which was also a smaller increase than experienced in recent years.
Hospital spending accounted for 28% of the growth in personal healthcare spending between 1997 and 2000 and increased to 38% by 2002 to 2004.
Out-of-pocket payments grew 5.5% in 2004, slower than aggregate health spending growth and slower than private insurance premiums.
Spending for home health agencies rose more rapidly than any other service category, increasing 13.3% in 2004.
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