Expenditure growth for physician and clinical services is projected to accelerate to 5.9 percent this year, compared with 3.3 percent in 2013, according to a recent report from CMS' Office of the Actuary published in Health Affairs.
Here are five things to know about physician and clinical services spending growth.
1. In 2013, national spending growth on physician and clinical services is projected to have been $583.9 billion. Expenditure growth for physician and clinical services was down in 2013 from 4.6 percent in 2012.
2. The slowdown in spending growth in 2013 was attributable to reductions in payments to Medicare providers resulting from sequester and procedural payment changes, according to the report.
3. The acceleration in expenditure growth for physician and clinical services in 2014 is influenced by expectations the newly insured will be younger than those who are currently insured.
4. Due to the expiration of temporary payment increases to Medicaid providers and lower payments to Medicare and Medicare Advantage providers, spending growth on physician and clinical services is projected to slow to 3.8 percent in 2015.
5. Spending on physician and clinical services is expected to reach 6.5 percent by 2020 and slow to 5.9 percent by 2023, according to the report.
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