Tuesday, January 10, 2012

Controls starting to work on health care spending

Washington - Health care spending slowed for the first time in 51 years during the 2009-10 fiscal year, according to government figures. Some experts are speculating that cost controls by private employers and government managers are starting to work to increase the sustainability of Medicare and private health care coverage.

At an average rate of $8,402 per person – the largest amount in any industrially advanced nation of the world – spending increased by 3.9 percent, reaching $2.6 trillion, according to a Health and Human Services Department report.

At 17.9 percent share of the total economy, health care leveled off due to consumers' greater frugality in the areas of elective surgery, late-night emergency room visits, and the use of generic drugs.

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