Healthcare Spending Climbs at Slowest Rate in Years

Although healthcare spending expanded faster than the overall economy in 2007, it only increased from 16% to 16.2%, according to a study that was published Tuesday in the journal of Health Affairs.

The study also attributed the small growth to the extremely slow growth in prescription drug spending.

The reporters of an article in yesterday’s Wall Street Journal wrote, “While most health-care services grew at the same rate or faster in 2007 than in 2006, the pace of prescription drug spending slowed to its lowest rate in 45 years, climbing 4.9%, compared with an 8.6% increase the year before.”

The published study also noted that the government has been picking up more of the nation’s healthcare tab as well. The government paid for 46.2% of healthcare spending in 2007, which was up from 45.3% in 2004.

Click here to read the entire WSJ article: Health-Care Outlays Climb at Slowest Rate in Years.