This past August, healthcare prices were only 1 percent higher compared with August 2012, equal to the May 2013 rate, which was the lowest year-over-year growth recorded since January 1990, according to a report from the Altarum Institute's Center for Sustainable Health Spending.
The 12-month moving average healthcare price growth rate hit a new low at 1.5 percent. Additionally, the year-over-year growth rate for hospital prices slowed to 1.5 percent in August, the lowest rate since December 1998, according to the report.
Healthcare spending grew 3.8 percent in August 2013 over August 2012, increasing to a seasonally adjusted annual rate of $2.93 trillion, up slightly from $2.92 trillion in July. Hospital spending was $928 billion and represented 32 percent of total healthcare expenditures.
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