National healthcare spending grew at an annual rate of 4 percent during the first 11 months of 2013, just above the revised all-time low rate of 3.6 percent for 2011, according to a report from the Altarum Institute's Center for Sustainable Health Spending.
Depending on the data for December, 2013 could be the fifth consecutive year of healthcare spending growth lower than 4 percent, according to the report. Healthcare price growth was also notably slow last year. In December, healthcare prices grew 1.1 percent year-over-year, barely above the all-time low of 1 percent recorded in October 2013.
Here are five more key statistics on healthcare spending and price growth in November and December 2013.
1. In November 2013, healthcare spending grew 4.5 percent compared with November 2012, increasing to a seasonally adjusted rate of $2.96 trillion, up slightly from $2.95 trillion in October.
2. The November healthcare spending growth rate was 0.6 percent less than gross domestic product growth during the same time period.
3. Hospital spending was $939 billion and represented 32 percent of total health spending in November.
4. In December, the 12-month moving average of the healthcare price growth rate was 1.3 percent, on par with the record-low rate seen in October.
5. Hospital prices showed a 1.5 percent year-over-year increase in December, one-tenth less than the November rate and slightly greater than the October rate of 1.2 percent, which was the lowest rate recorded since November 1998.
More Articles on Healthcare Spending and Prices:
Report: October Healthcare Price Growth Rate Hit 50-Year Low
National Health Spending, Price Growth Remained Low in September
Healthcare Price Growth Remains Low at 1% in August