US Health Care Spending Declining Due To COVID-19 Pandemic, Report Indicates
- December 15, 2020
The RevCycle Intelligence (12/14, LaPointe) reports, “Healthcare spending in the US is declining for the first time in years because of the unprecedented COVID-19 pandemic, according to a new report from the Peterson-KFF Health System Tracker.” The report “found that healthcare’s share of US GDP actually fell by 1.8 percent as of the third quarter of 2020 (on an annualized basis),” and “spending on health services and prescription drugs also fell by about 0.5 percent by October 2020 (also on an annualized basis).” Despite the decline, however, “the US continues to be one of the most expensive countries for health services.”