Healthcare Spending Report Analysis

A recent report was released revealing information related to healthcare spending in 2013. The most important information taken from the report seems to be that the use of healthcare services decreased on average while the cost of services increased. This research was compiled from nearly five billion claims that were submitted.

The key takeaways:

  • Health spending increased by 3.9% in 2013
  • Health spending increased because of rate increases rather than use of services
  • The number of outpatient services as well as inpatient services decreased as prices increased
  • Emergency room visits and outpatient surgeries decreased
  • Prescription drug prices increased while generic drug prices dropped (this also lead to a 15.5% decline in brand name drug use and an increase in generic prescription use)

What does this mean for healthcare?

This report is stating that the cost of healthcare is continuing to increase. People are no longer utilizing their benefits most likely due to the high cost associated with them. Individuals and families are more concerned with generic prescriptions that are affordable rather than pay the high cost associated with brand name drugs. Unfortunately, the cost of healthcare is rising at a rate that is deemed affordable to many.

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