Health care costs have soared dramatically over the last 10 years. Many factors play a role in driving up health care costs, including consumer demand, technological advances, government mandates, litigation, and fraud.
Health Care Trends in America
Through the use of national research and other fact-based data sources, this annual examination of health care costs and trends is designed to make us all more informed about health care and the economics of health care.
How Changes in Medical Technology Affect Health Care Costs
The Kaiser Family Foundation — Health expenditures continue to grow very rapidly in the U.S.
Since 1970, health care spending has grown at an average annual rate of 9.8%, or about 2.5 percentage points faster than the economy as measured by the nominal gross domestic product (GDP).
Annual spending on health care increased from $75 billion in 1970 to $2.0 trillion in 2005, and is estimated to reach $4 trillion in 2015.
As a share of the economy, health care has more than doubled over the past 35 years, rising from 7.2% of GDP in 1970 to 16.0% of GDP in 2005, and is projected to be 20% of GDP in 2015.
Health care spending per capita increased from $356 in 1970 to $6,697 in 2005, and is projected to rise to $12,320 in 2015.
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