Report: National Health Spending Grew 3.9% in July

National health spending grew by 3.9 percent in July 2013 compared with July 2012, returning to historic lows from a year-over-year growth rate of 4.3 percent in June, according to a report from Altarum Institute, a nonprofit health systems research and consulting organization.

Health spending in July increased to a seasonally adjusted annual rate of $2.95 trillion, up slightly from $2.94 trillion in June. Additionally, health spending accounted for 17.5 percent of the gross domestic product in June, a slight decrease from 17.6 percent in May. Hospital spending was $936 billion in July, up 3.3 percent from $906 billion in July last year.

In terms of labor, private sector healthcare employment grew by 32,700 jobs in August 2013, according to the Bureau of Labor Statistics. Ambulatory care drove the increase, adding 26,600 jobs. However, hospital job growth stayed flat, with less than 1,000 new jobs.

More Articles on Healthcare Spending and Labor:
Healthcare Share of GDP Drops to 17.4%
Hospital Stay Costs Up 90 Percent Since 2000, Report Says
Hospitals Made Marginal Job Gains in August 

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