Healthcare spending up 5.5% in August

National healthcare spending in August 2016 was 5.5 percent higher compared to August 2015, according to Altarum Institute’s Center for Sustainable Health Spending.

Advertisement

The research center releases monthly briefs called Health Sector Economic Indicators that analyze economic data from the month prior to derive insight into big picture trends.

Below are four things to know.

1. Healthcare prices nationally were 1.9 percent higher in August 2016 compared to August 2015.

2. Hospital and physician prices, the largest components of healthcare prices, grew at a much lower rate compared to the same period in 2015. Hospital and physician prices rose 0.9 percent and 0.1 percent, respectively, year-over-year.

3. Prescription drug prices shot up to their highest level since 2014, according to the report. Drug prices grew 6.3 percent between August 2015 and August 2016.

4. Spending on prescription drugs grew 4.3 percent year-over-year.

More articles on finance issues:  

Olathe Health System taps Cerner for RCM
Adventist Health beefs up patient identification, AHA launches MACRA tool & more — 7 RCM keynotes
CMS releases MACRA final rule: 10 things to know

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.

Register to Attend Webinar

Reconsider What’s Possible: Enterprise RCM and the Pro-Fee Practice

Tuesday, July 28
11:00 AM - 12:00 PM CDT

Presenters: Garett Kreitz, Med-MetrixJohn Stefanowicz, Med-MetrixPaul Summers, Nevada Heart & Vascular

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.