Medicare spent around $3.1 trillion between 2009 and 2014. However, if the healthcare spending growth rate from 2000 to 2008 had been maintained, Medicare would have spent $3.6 trillion, accounting for the $473 billion in savings.
The reason for the cost slowdown is attributed to several factors, including the transition to value-based care and the end of the Great Recession.
“Thanks to the Affordable Care Act, we are putting the patient at the center of care and spending our dollars more wisely by paying for what works,” said HHS Secretary Sylvia Burwell in a statement, according to the report. “This kind of progress is not easy, but what we have accomplished in six short years is undeniable: From 20 million uninsured, to billions of dollars saved, to changes that are making our healthcare system work better for everyone.”
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