A recent report from CMS shows U.S. healthcare spending growth has slowed.
Health spending grew at 3.6 percent last year and total U.S. health expenditures got up to $2.9 trillion, or $9,255 per person, according to a news release.
For the last five years, growth has been between 3.6 percent and 4.1 percent, the release reads.
"This report is another piece of evidence that our efforts to reform the healthcare delivery system are working," CMS Administrator Marilyn Tavenner said in the news release. "To keep this momentum going, we are continuing our efforts to shift toward paying for care in ways that reward providers who achieve better outcomes and lower costs."
Nationally, health spending growth has seen a 0.5 percentage point slowdown - from 4.1 percent in 2012 to 3.6 percent in 2013, according to a news release.
Based on the report, the percentage point slowdown is due to "slower growth in private health insurance and Medicare spending." However, due to Medicaid expansion, Medicaid spending experienced faster growth, according the release.
Here are some other key points from the report:
1. Medicare spending grew 3.4 percent to $585.7 billion in 2013 compared to 4 percent growth in 2012. Mainly, the slowdown is attributed to Medicare enrollment growth slowing down, along with net impacts from the Patient Protection and Affordable Care Act and sequestration. Per-enrollee Medicare spending did not change much in 2013 compared to 2012.
2. Spending on private health insurance premiums reached $961.7 billion in 2013 and went from 4 percent growth in 2012 to 2.8 percent growth in 2013.
3. Medicaid spending grew 6.1 percent last year compared to 4 percent growth in 2012.
4. Out-of-pocket spending, including co-payments, deductibles, spending by the insured on services not covered by insurance, and spending by those without health insurance, grew 3.2 percent in 2013 compared to the annual growth of 3.6 percent in 2011 and 2012.
5. Hospital spending increased 4.3 percent to $936.9 billion in 2013. In 2012, it experienced 5.7 percent growth. Slower growth in both price and non-price factors contributed to last year's lower growth rate.
6. Spending for physician and clinical services increased 3.8 percent in 2013 to $586.7 billion compared to 4.5 percent growth in 2012.
7. Retail prescription drug spending grew 2.5 percent in 2013 compared to 0.5 percent growth in 2012.
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