U.S. healthcare spending reached a seasonally adjusted annual rate of $3.49 trillion in April, 4.4 percent higher than the same month the year prior, according to an Ann Arbor, Mich.-based Altarum's Center for Sustainable Health Spending report.
Here are seven things to know about U.S. healthcare spending and pricing in 2017.
Spending
1. U.S. healthcare spending growth fell to its lowest rate in 16 months in April at 4.4 percent.
2. The U.S. healthcare spending growth rate is estimated at 4.9 percent for the first four months of this year, according to the report.
3. In April, healthcare spending maintained its all-time high gross domestic product share at 18.3 percent, though a downward revision from March.
4. Within the industry, home healthcare saw the largest growth in spending at 5.7 percent, while dental services spending grew the slowest at 2 percent.
Pricing
5. In April, healthcare prices grew at the lowest annual rate since June 2016. Prices rose 1.6 percent year over year in April, compared to 1.9 percent year over year in March.
6. Hospital price growth rose 0.1 percent year over year to 1.8 percent in April, while physician and clinical services price growth rose from 0.4 percent to 0.5 percent year over year in the same month.
7. Annual drug price growth dropped to 3.1 percent in April, continuing its descent from a 20-year high of 7 percent last November.