Health Care: 20% U.S. Spending in 2016

February 25th, 2007 | Category: Medical News

Projection for Almost Doubling of Health Care Spending, to Almost $4.1 Trillion

Health care will account for nearly 20 cents of every dollar spent in the U.S. in 2016, government experts predict.

If so, America’s health care tab will be nearly twice as large as in 2006.

U.S. health care spending weighed in at $2.1 trillion last year. By 2016, the figure is projected to jump to $4.1 trillion, according to a government report published in Health Affairs.

Researchers included John Poisal, deputy director of the National Health Statistics Group, which is part of the Office of the Actuary in the Centers for Medicare and Medicaid Services.

The report predicts the annual growth rate for prescription drug spending will soar from 7.4% in 2007 to nearly 10% in 2016.

The growth in health care spending on hospitals, expected to be about 7% starting this year, is predicted to keep that pace through 2016, according to the report.

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