Briefs Show Downward Trend in Health Spending, Jobs
Last week, the Altarum Institute's Center for Sustainable Health Spending released its December Health Sector Economic Indicators briefs showing that health care industry spending, price inflation and employment growth are trending downward.Â According to the briefs,Â total health care spending growth fell from 5.2% in September to 5% in October because of reductions in hospital, physician services and nursing home spending. Meanwhile, health care spending as a share of the total economy -- currently at 18.1% -- shows signs of leveling off around 18% from its all-time high of 18.2% in June 2011. In addition, the briefs found that health care price inflation in October fell to a 13-year low of 1.9% and health care industry jobs grew by 17,000 in November, just below its 24-month average.
- "Growth in Health Price, Spending, Employment All Trend Down" (Letourneau, Healthcare Finance News, 12/9).