Jan
18

Costly Care

costly care Healthcare spending totaled $3.2 trillion in 2015, up 5.8% from 2014, well above the rate of inflation, and now accounts for a dizzying 17.8% of GDP! However, it’s high-cost patients that drive these costs. The most expensive 1% of patients consume 21% of healthcare spending, the next 4% consume 28% of spending and the next 5% consume 16%. The remaining 90% of all patients consume just 35% of healthcare spending.

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Comments

  1. Edward J Hayes says:

    I have read that in the latest year studied that the Medicare fraud was $60B+. On occasion, but not often, there is news of a doctor or clinic being prosecuted for over billing medicare in the millions. Bottom line, almost nothing is done about it. One more reason to privatize medical care in this country. Your view.

    Thank you.

    PS – enjoyed your talk at the Hayek Group in Reno on the 16th,

  2. G M Elliott, wondered if you might have the detail of demographics that are included in the different patient groups? Just curious whether our cultural drive to “live long” has adversely effected our costs to live.

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