National Health Care Spending In 2017: Growth Slows To Post-Great Recession Rates; Share Of GDP Stabilizes.

Abstract

Total nominal US health care spending increased 3.9percent to $3.5trillion in 2017, slowing from growth of 4.8percent in 2016. The rate of growth in 2017 was similar to the increases between 2008 and 2013, which preceded the faster growth experienced during 2014-15-a period that was marked by insurance coverage expansion and large increases in prescription drug spending. Slower growth in health care spending in 2017 was mainly attributable to the use and intensity of goods and services, particularly for hospital care, physician and clinical services, and retail prescription drugs. Nearly all major sources of insurance and sponsors of health care experienced slower growth in 2017. On a per capita basis, spending on health care increased 3.2percent and reached $10,739 in 2017. The share of gross domestic product devoted to health care spending was 17.9percent in 2017, similar to the share in 2016.