Healthcare products accounted for the greatest increase in spending growth in the first two months of 2016, reaching a growth rate of 6.6 percent, up from an average of 2.2 percent between 2009 and 2013, according to an analysis from the Altarum Institute Center for Sustainable Health Spending.
According to the report, the overall spend growth rate for the national healthcare expenditures fell from 5.8 percent in 2015 to 4.6 percent during the first two months of 2016, though current growth rates are still well above the average 3.7 percent rate experienced from 2009 to 2013.
When analyzing the components of the national health expenditures, it is possible to compare the spending growth rates among the different components. Here are the spending growth rates across the four main components of the NHE.
1. Products — 6 percent spending growth rate in first two months of 2016, up from the 2.2 percent average from 2009 to 2013
2. Administration and net cost of insurance — 6.9 percent in 2016, up from the 4.4 percent average from 2009 to 2013
3. Services — 4.3 percent in 2016, same growth rate as 2009 to 2013
4. Public health, research, structures and equipment —3.3 percent in 2016, up from the 0.9 percent average from 2009 to 2013