Healthcare spending on New York state residents with employer-based insurance coverage is on the rise primarily due to price growth, according to a new report cited by The Wall Street Journal.
The report — from the New York State Health Foundation, a private, statewide foundation, and the research nonprofit Health Care Cost Institute — found that per-person spending on New Yorkers climbed 27.2 percent to $6,335 between 2013 and 2017. This represents a 6.2 percent annual average growth rate in per-person spending among nearly 2.1 million New Yorkers with employer-based coverage during that time period, according to the Journal.
That's compared to the national annual average growth rate of 3.9 percent.
The report cited by the newspaper largely attributed the rise in healthcare spending growth in New York state to higher prices of physician visits, inpatient services and prescription drugs.
Sherry Glied, dean of the Robert F. Wagner Graduate School of Public Service at New York University in New York City, told the Journal concentrated hospital markets and consolidation of health systems are also contributing factors.
Read the Journal's full report here.
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