The 2016 Health Care Cost and Utilization Report examines HCCI’s commercial claims database. HCCI used the database, which comprises information on Americans under age 65 covered through employer-sponsored health plans, to analyze out-of-pocket spending from 2012 to 2016.
Here are five things to know about out-of-pocket spending trends.
1. Cumulative growth in out-of-pocket spending between 2012 and 2016 was 12 percent. This was outpaced by total healthcare spending, which grew 15 percent during the same time period.
2. In 2016, HCCI found out-of-pocket spending grew 3.6 percent per person, compared to 2.9 percent in 2015.
3. Total out-of-pocket spending per person increased an average of $88 from 2012 to 2016. This does not include consumer spending on premiums or reflect the out-of-pocket cost of using a certain service, but rather represents an average across the population.
4. From 2012 to 2016, the biggest increase in out-of-pocket spending was for outpatient services, which grew 29 percent. Out-of-pocket spending on prescription drugs decreased 15 percent during the same time.
5. Out-of-pocket spending on generic drugs fell 2 percent, while out-of-pocket spending on brand drugs dropped 26 percent per person from 2012 to 2016.
For the full HCCI report, click here.
More articles on healthcare finance:
CHS aims to shed at least 20 more hospitals to reduce debt load
Premier Health to close 491-bed Ohio hospital
Northwestern Memorial HealthCare’s net income nearly doubles in Q1
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.