Overall healthcare spending in the U.S. hit a new record high. Spending rose 7.9 percent to $1.9 trillion in 2004, a slight drop from the rate of increase in 2003 when it climbed at 8.3 percent. Health spending now makes up 16 percent of U.S. GNP. The report, which is based on government data, appears in a web exclusive of the journal Health Affairs. Overall, the nation now spends twice as much as it did on healthcare a decade ago. The report's authors note that prescription drug spending fell from double digits to single digits. Of course, the new numbers do not include spending for the new prescription drug benefit which goes into effect this year.
- see this article from The Washington Post
- see this abstract from Health Affairs