National healthcare spending in August 2016 was 5.5 percent higher compared to August 2015, according to Altarum Institute's Center for Sustainable Health Spending.
The research center releases monthly briefs called Health Sector Economic Indicators that analyze economic data from the month prior to derive insight into big picture trends.
Below are four things to know.
1. Healthcare prices nationally were 1.9 percent higher in August 2016 compared to August 2015.
2. Hospital and physician prices, the largest components of healthcare prices, grew at a much lower rate compared to the same period in 2015. Hospital and physician prices rose 0.9 percent and 0.1 percent, respectively, year-over-year.
3. Prescription drug prices shot up to their highest level since 2014, according to the report. Drug prices grew 6.3 percent between August 2015 and August 2016.
4. Spending on prescription drugs grew 4.3 percent year-over-year.