The December studies, by Credit Suisse and PwC, formerly PricewaterhouseCoopers, attributed the slowdown in part to high deductibles. While the most common health plans in 2008 and 2009 had no deductibles, PwC said the most common employer-sponsored plans in 2010 had deductibles of $400-$999. Additionally, Credit Suisse reported 60 percent of consumers said they expect to continue to pay more out-of-pocket for healthcare.
In National Health Expenditure data, released in January, spending on hospital care grew 5.1 percent from 2008-2009, the slowest rate in 10 years, and spending on physician services grew just 4 percent. While 2010 data are not out yet, health insurers reported their customers used less healthcare in 2010 than projected.
Even if unemployment drops this year, Credit Suisse predicted healthcare spending wouldn’t recover for two years. It slated future spending growth at close to 4.2 percent, down from a 7 percent average in the past five decades.
PwC predicted the slower demand for services could lead to more expensive care because diseases would be treated at a more advanced stage.
Read the American Medical News report on healthcare spending.
Read more on healthcare spending:
– Volume of Spine Procedures May Recover This Year
– Healthcare Spending Logged Historically Low Increase in 2009
