USA Healthcare Costs Now 16% of GDP
Posted on January 10, 2007 Comments (7)
U.S. Health Spending Estimates:
The 6.9 percent growth in 2005 marks the slowest rate of growth in health spending since 1999, when growth was 6.2 percent. Health care spending reached almost $2.0 trillion in 2005, or $6,697 per person, up from $6,322 per person in 2004.
So the rate at which healthcare spending continues to increase is decreasing. That is better than increasing at an increasing rate. However, it is already a huge drag on the economy and the need is for the expenditures to actually decrease (not slow down the rate of increase) and for performance to improve. There are good things being done but much more is needed. Health care costs are a huge cost for companies.
Health Care Spending in the United States and OECD Countries
Related: USA Health Care Costs reach 15.3% of GDP – the highest percentage ever (2 years ago) – Health care spending rose at twice the rate of inflation in ’05 – Health Care Costs Approach $2 Trillion – Excessive Health Care Costs article directory – Bill takes on prescription costs
7 Responses to “USA Healthcare Costs Now 16% of GDP”
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January 23rd, 2007 @ 12:17 am
[...] Health care does seem to finally be getting some serious political consideration. Finally people are realizing excessive medical costs are a deadly disease afflicting the American economy, as Dr. Deming put it. [...]
March 22nd, 2007 @ 10:19 am
[...] to patients even if it means going against what is the best medical advice. Is it any wonder that helath costs continue to escalate, now totaling 16% of GDP, with such practices accepted? How hard is it to say, yeah great you want x drug, that is not [...]
April 7th, 2007 @ 9:52 am
This is one of the many problems with the existing health care system in the USA. That system now costs 16% of USA GDP – the highest cost anywhere…
May 2nd, 2007 @ 12:37 pm
Intel’s “Grove sees a major breakdown in a system that leaves nearly 50 million Americans uninsured and emergency rooms closing down in droves…”
September 11th, 2007 @ 9:09 pm
Decades ago W. Edwards Deming targeted high health care costs as a deadly disease of the US economy decades ago and the problem has just gotten worse almost every single year since…
February 20th, 2008 @ 9:44 am
Health care spending reached a total of $2.1 trillion, or $7,026 per person in 2006, up from $6,649 per person in 2005…
October 7th, 2008 @ 11:28 pm
[...] It might seem like a stretch to compare the lowest ranked country to the average of the top 3, but, for all those that feel the USA is the best health care system it raises the questions of why they don’t think 100,000 annual deaths is a significant enough problem to lower their opinion of the current system. And remember the USA system costs something like twice as much as the average system: up to 16% of GNP in 2006. [...]