Healthcare Costs on the Rise—Again
Healthcare reform that controls costs remains elusive, despite the radical changes of the Affordable Care Act. Last year, health care costs rose 5.5% over 2014. That increase follows a rise of 5.3% recorded in 2014. Projections are that national health spending will grow by 5.8% each year on average over the next decade, reports Modern Healthcare. Ironically, these increases are partly attributable to the success of the ACA in signing up many of the uninsured—which has created a need for more hospital services, clinic visits, and prescription drugs, It gets worse. Healthcare now represents 17.8% of GDP in 2015. That figure will rise to 20.1% by 2025, estimates the Centers for Medicare and Medicaid Services, thanks to a demographic bulge of ageing baby boomers. The call is still out for innovative business models to slow down healthcare spending.
John Howell, Editorial Director
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