Growth in healthcare spending slows
BALTIMORE – Total healthcare spending is expected to grow, on average, 5.8% over 2014-2024, according to a new report from the CMS Office of the Actuary. That rate is lower than the, on average, 9% growth in healthcare spending in the three decades before 2008. “The task ahead for all of us is to keep people healthier while spending smarter across all categories of care delivery so that we can sustain these results,” said CMS Acting Administrator Andy Slavitt. Healthcare spending in 2014 is projected to have hit $3.1 trillion, or $9,695 per person, and to have increased 5.5% from the previous year. Driving growth: millions gained health insurance coverage and new expensive specialty drugs hit the market.