American Health Care Spending Slowed Considerably in Recent Years
Fred Bauer wrote about health care costs and cost challenges.
Fred pointed out this study by the Heritage Enterprise that showed that US health care costs rose at a rate below several industrialized nations.
Heritage Blog reported:
The Kaiser Family Foundation used OECD data to show that the growth of American health care spending slowed considerably in recent years. Between 1990 and 2003, America’s per capita health care inflation was 3.6% (less than in the 1980s). America’s “spiraling health costs” were in fact comparable to growth in France and Iceland, and even lower than many countries, including Australia, Belgium and Britain.
OECD data confirms that the trend continues through this decade, with American health spending increases being about the average for OECD countries (see below). And public systems continue to spill red ink; even with pharmaceutical price controls and rationing, limited access to technology, and minimal capital investments, Ontario’s health budget is projected to grow by 16.5% over the next three years. Quebec’s annual health inflation rate is almost 6%. In Britain, the NHS reports a 60-year average increase of 3% over inflation. Ireland’s single-payer system has experienced constant price turbulence. Despite 4.7% deflation this May, Irish health costs still grew at an annualized rate of 3.5%.