Health Spending Grows Once Again In 2007, But Not By Much

Posted on 06 January 2009 by admin

Health care spending grew once again in the year 2007, but not by much..<br />
....Washington (SmartAboutHealth) - Health care spending grew once again in the year 2007, but not by much.

According to a new report released by the Centers for Medicare and Medicaid Services, $2.2 trillion was spent on health care in 2007.

This marked a 6.1% increase from 2006, which is not as high of an increase as seen in previous years.

This worked out to around $7,400 spent on each person in the year 2007 for health care.

The 6.1% increase marked the lowest increase since 1998 in the U.S.

31% of the money was spent on hospitals, with 21% spent on physicians, 10% on hospitals, and 25% on other various services.

Generic drugs saw a rise as they took 67% of the drug market in 2007, compared to 63% in 2006.

The report was published in the journal Health Affairs.

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