Healthcare Spending in US up by 7% Thanks to push from Hospital Sector
Published By : 11 Jun 2015 | Published By : QYRESEARCH
The amount of funds invested in the health care system in the United States is rising at a much faster rate than was predicted, as per data revealed by the U.S. Census Bureau for the first quarter of this year.
The Quarterly Services Survey by the Census Bureau is considered to be one of the most precise presentations of the United States economy. It showed that health care spending rose 7.2 per cent in this year’s first quarter compared to the first quarter of last year. Hospitals were mainly responsible for this growth since hospital spending went up 9.2 per cent year on year.
A health policy expert at the Kaiser Family Foundation, Larry Levitt tweeted that the hike in hospital revenue was not only because of volumes because hospital days went up by a modest 3.5 per cent. Prices are also on the rise and hospitals have been getting patients suffering from much more complex conditions.
The new data surpasses the estimates for the recent first quarter as declared by the United States Commerce Department’s Bureau of Economic Analysis. The analysis has stated last month that spending on health care rose 5.4 per cent annually. Census data also exceeds the forecasts from the Altarum Institute Center for Sustainable Health Spending, which is a non profit organization dealing in health care economics. Altarum stated that health care spending rose 6.6 per cent in the first quarter of this year.
Irrespective of the final figures, the economic numbers suggest that the record low health care spending growth rates over the past few years seem to be a thing of the past for the health care industry.