Awesome on IBM and Watson and Natural Language Processing:
The flattening out of health care costs – at 17% of GDP – is now a five year trend. $9,255 per person!
Growth In U.S. Health Spending In 2013 Is Lowest Since 1960
National health spending grew 3.6 percent in 2013, the lowest annual increase since the Centers for Medicare and Medicaid Services (CMS) began tracking the statistic in 1960.
Spending slowed for private health insurance, Medicare, hospitals, physicians and clinical services and out-of-pocket spending by consumers. However, it accelerated for Medicaid and for prescription drugs, according to the report, published online by the journal Health Affairs.
Health care spending has grown at historically low rates for the past five years.The study found that health care spending rose to $2.9 trillion, or $9,255 per person, in 2013. As a share of gross domestic product, health care remained at 17.4 percent, the same share since 2009, the CMS researchers found.
The 3.6 percent spending growth for 2013 tracks a CMS estimate from September and is 0.5 percentage point lower than 2012.
Medicare spending, which was nearly $586 billion in 2013, rose 6.1%.
Consumer out-of-pocket spending, including co-payments and deductibles or payments for services not covered by a consumer’s health insurance, was $339.4 billion in 2013.
Spending for physician and clinical services was $586.7 billion, up 3.8%.
By the way, 190 million are covered by private health insurance, up .7%