McKinsely Quarterly just keeps coming out with some very interesting articles on all sorts of topics. The most recent one to catch my attention is on U.S. Health Care spending trends (written December 2011). I hope this isn’t like beating a dead dog, but maybe this is a more objective look at the situation (rather than the common “Americans spend way to much on health care!” statement that we always hear).
The major finding of the article are as follows (these are direct quotes with some rephrasing):
- Health care spending reached record levels in 2009.
- Growth rates of health care spending have hit historical lows, although health care spending has grown faster than the economy as a whole.
- The recent recession contributed to the slowdown.
- Growth in health care spending has varied considerably across different categories of care, with the strongest growth in outpatient care and long-term home care.
The article has much more detail than anything that I could include here. Including interpretations of this data found in a PDF downloadable at McKinsey Quarterly.
It seems to me that while Americans are spending more on health care than anywhere else, it isn’t as dire as it sounds.The source for this article is here.