Study: U.S. Spends Far More on Health Care and Gets Less
Posted on Saturday, January 12, 2019 5:21 PM
According to a new study that was published in Health Affairs, the U.S. spends more per capita on health care than other wealthy countries and the reason is higher prices.
The U.S. spends on average $9,892 per person per year on healthcare, compared to the average of $4,033 in the Organization for Economic Cooperation and Development (OECD). “The researchers found that health care spending in the U.S. continues to grow faster than in other OECD countries. U.S. health spending increased at an average rate of 2.8 percent from 2000 to 2016, while other OECD countries saw an average increase of only 2.6 percent per year during that same time. Spending on pharmaceuticals increased by 3.8 percent per year during that same time in the U.S., but only 1.1 percent per year in the rest of the OECD. Those numbers are per capita and adjusted for inflation. That means that health care spending accounts for a much larger part of the economy in the U.S. than in other wealthy countries. Health care spending in the U.S. in 2016 accounted for 17.2 percent of the GDP, compared to only 8.9 percent for the OECD.”
Corridor is the nation’s preferred partner and trusted business advisor to home health and hospice providers, providing quality services and impactful results for 30 years. Focusing on key operational, regulatory and financial challenges, Corridor delivering industry-unique solutions and deep expertise in coding, clinical documentation review, compliance, billing and collections , consulting and provider staff education . At Corridor, we make the business of caring for people Better! For the most important industry updates and news that impacts home health and hospice, please make sure to sign up for our weekly newsletter to receive the latest up-to-date industry information direct to your inbox!
For additional information, please contact Corridor at 1-866-263-3795.Go Back