Healthcare spending in the United States is a key driver of the nation’s fiscal imbalance and has risen notably over the past few decades. Recent data from the National Health Expenditure Accounts released by the Centers for Medicare and Medicaid Services reveal important insights about why healthcare spending is rising, and what it means for our fiscal condition, budget, and economy. Below are seven key takeaways from the recent data.
Though healthcare spending in 2022 declined from the heightened levels during the pandemic, health spending is still high in the United States. The United States spends more on healthcare than any other country, but unfortunately does not necessarily provide better outcomes. An inefficient healthcare system also reduces income and makes the economy less competitive. As healthcare spending in the U.S. continues to rise, there are options available to reform our system that will reduce costs while maintaining quality of care.
Related: How Does Government Healthcare Spending Differ From Private Insurance?
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