National health spending may nearly double by 2019; 2009 saw the largest recorded one-year increase in health spending as a percentage of the economy, and it's only going up according to CMS actuaries.
A shrinking economy combined with greater public health spending in 2009 produced a 1.1% point increase in national health spending as a share of gross domestic product, the largest single-year jump since records began in 1960. This was largely because of a spike in Medicaid spending and relatively low growth in private spending. Spending on doctors is expected to reach 6.6% by 2017 as the economy recovers.
A Medicare physician payment cut scheduled to take effect March 1 would significantly impact spending on doctors, according to the report. Under the cuts, total spending on physicians and clinics would increase by 1.5% in 2010. If prevented, such spending would increase by 4.1%.
Read the full article in American Medical News, or click here:
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