The acceleration was largely because of an $8 billion increase in hospital revenue in the fourth quarter, according to a USA Today report. Avalere Health CEO Dan Mendelson told USA Today the rise may be the result of drivers such as increasing use of expensive, high-tech healthcare services. Additionally, American Hospital Association spokeswoman Jennifer Schleman said the economy is picking up, meaning people have more resources to spend on healthcare services, according to the report.
Furthermore, the Patient Protection and Affordable Care Act’s mandate that all Americans get health insurance or pay a penalty could also lead to more spending. CMS expects healthcare spending to increase by 6.1 percent this year, compared with a 4 percent increase in 2013, as millions of Americans gain insurance coverage, according to the report.
More Articles on Healthcare Spending:
5 Factors That Influence Healthcare Spending Growth
10 Key Findings on Healthcare Costs in Massachusetts
3 Key Observations on the Record Healthcare Spending Growth Slowdown
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.
