Health care spending has been steadily rising since 2013, even though utilization is flat.
Consumer health care spending reached an all time high in 2017, according to a report put out by Health Care Costs Institute (HCCI). The report analyzed health claims made through employer provided insurance between the years of 2013 to 2017.
The average person spent $5,641 per year on health care, an all-time high. Health care spending on a per person basis has been steadily increasing between 4-5% since 2015. Though spending is at a zenith, utilization of health care services is relatively flat, with a 0.2% decline in usage between 2013-2017.
The catalyst for the spending growth is the increase in prices, which overall have increased 17.1% since 2013. Since 2013 prices have increased for inpatient services (15.6%), outpatient (18.9%), professional services (12.4%) and prescription drugs (25%).
Specific health services that have seen alarming price increases since 2013 include administered drugs (45%), mental health and substance abuse (35%), emergency room (27%), psychiatry (25%) and immunizations (21%).
Among prescription drugs, the largest price increases since 2013 have been for rheumatoid arthritis (156%), chemotherapy (97%), skin (70%), blood (63%) and hormones (55%).See the entire HCCI report here.