Health economist Austin Frakt argues that although officials, like the Congressional Budget Office, credit the aging population in the United States as a source of healthcare cost, this is not the case. In spite of the assumption that older people need more healthcare services, some research shows that healthcare spending increases due to “proximity to death” — not necessarily throughout old age.
“In other words, living longer doesn’t increase healthcare spending so much as it delays the large amount spent near death,” Mr. Frakt writes.
If, as several studies state, aging only accounts for a few percentage points of healthcare spending growth, what is to blame for the rest? According to Mr. Frakt, between one-third and two-thirds of the healthcare spending growth per person in recent years is attributable to technology.
“Every year you age, healthcare technology changes,” he writes. “Usually for the better, but always at higher cost.
More articles on health IT:
Oklahoma HIE to disband
IBM revenue declines for 19th quarter
TriHealth reports potential release of 1k patients’ information
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
