Health Care Spending
Growth in health care job creation remained low in February, with a national gain of 9,500 jobs, according to figures from the Ann Arbor healthcare consulting organization Altarum Institute. Meanwhile, the newly covered under the Affordable Care Act drove health spending up nationwide, while price increases stayed at an all-time low.
A net 15,000 health care jobs were created in October 2013, significantly below the two-year average of 21,000 jobs per month, according to new figures from the Ann Arbor-based Altarium Institute.
Over the first 11 months of 2012, national health expenditures grew at an annual rate of 4.3 percent, compared to the 3.9 percent increase for 2011 reflected in data released last week by the Centers for Medicare & Medicaid Services.
National health expenditures in September 2012 grew by 3.7 percent relative to September 2011, ticking down a tenth from the August rate, and representing the fifth consecutive month of below 4 percent growth. At 4 percent, the average monthly rate of growth in spending, year-to-date is barely above the all-time low rate of 3.8 percent recorded in 2009.
Physician, good luck healing thyself. Health care spending is 9 percent higher for hospital employees than it is for the general employee population, according to study results released today by Truven Health Analytics, formerly the Healthcare business of Thomson Reuters.
National health expenditures in August 2012 grew by 3.8 percent relative to August 2011, equal to the July rate, and representing the fourth consecutive month of growth below 4 percent. The 2012 average rate of growth in spending at 4.1 percent is down sharply from the estimated 2011 average of 5.2 percent and helps alleviate fears of a new acceleration in overall health spending.
Health care job growth slowed in April, with just 19,000 new jobs created compared to the 24-month average of 24,000 jobs, according to Ann Arbor’s Altarum Institute.
The January Health Sector Economic Indicators briefs released by the Altarum Institute indicate that over the first 11 months of 2011, health spending has grown at an annual rate of 4.5 percent, compared to the 3.9 percent increase for 2010. This growth was driven by high spending early in 2011 followed by a gradual, steady decline.
Health care spending in the first four months of 2011 grew at an annual rate of 4.7 percent, up from 3.9 percent growth in 2010, according to the July Health Sector Economic Indicators briefs released by Altarum Institute’s Center for Sustainable Health Spending.