Study: U.S. health spending falls for first time in 60 years in 2020, with 7% decline for hospital care
Annual spending for health care declined by 2% in 2020, including a 7% decline in spending for hospital care, as a result of the COVID-19 pandemic, according to a preliminary analysis by Altarum.
That’s the first decline in annual health spending since at least 1960, when the government began tracking it. The decline for hospital care was second only to the decline for dental services (20%). While most health care providers saw declines, spending on prescription drugs rose by 6.1%.
The analysis excludes certain spending categories, such public health, capital and the net cost of health insurance; and does not include Coronavirus Aid, Relief, and Economic Security Act payments, the authors note.
Related News Articles
Headline
The Department of Health and Human Services July 2 announced it will provide Medicaid and Children's Health Insurance Program coverage to incarcerated people…
Headline
AHA June 27 released the first three of a series of videos highlighting various behavioral health roles and career paths in a hospital or health system, as…
Headline
The Department of Health and Human Services June 26 announced beneficiary coinsurance reductions for 64 prescription drugs available through Medicare Part B.…
Headline
The U.S. Court of Appeals for the 5th Circuit June 21 partially affirmed the district court judgment that the Preventative Services Task Force charged with…
Perspective
For too long and for too many patients, the process of obtaining prior authorization for a medical procedure or medicine has been a tangled web, as people are…
Headline
Overall health does not fit neatly into individual buckets, which is why today's caregivers are designing treatment plans that integrate behavioral and…