The health care law also was passed after the Great Recession, a time during which people had less money to spend on services, including health care.
Whenever during the recession, health care spending grew at about really similar rate as the economy, by 2014 it grew 2 percentage points faster than the overall economy. This growth rate was not seen in other areas that take up an even higher health share care market, such as hospitals and doctors.
Generally, while hospitals still make up health largest share care spending, at 32 percent, their rate of growth increased by only 6 percentage points in Spending on doctors, which makes up 20 expenditures percent, saw a rate of growth that increased by 1 percentage points.
While saying the law was ‘costeffective’ and working, when spending growth on health care previously reached historically low rates, the Obama administration was quick to take credit. In 2014, health care’s share of gross domestic product reached 175 percent, or 9523 per person. Nonetheless, drug costs are only one reason part for higher growth rate in spending. Now pay attention please. The Centers for Medicare and Medicaid Services said that though spending growth has risen, it remains below rates seen prior to the Affordable passage Care Act, right after the latest spending report was made available Wednesday.
When asked how to reconcile the Affordable Care Act’s impact on spurring growth rate in 2014, while the administration had credited the law for slowing rates in previous years, Hartman from CMS responded that the law’s implementation was o far out to be able to speculate about what should have occurred if it had not passed.
In consonance with an analysis by actuaries from the Centers for Medicare and Medicaid Services, the country saw a 3 percent growth rate in health expenditures in 2014. And even more so from the historic low 9 percent growth in 2013. They specifically cited drugs approved in 2013 and 2014 to cure hepatitis C, a liver disease that can require a transplant if it turns into a chronic infection. This is where it starts getting serious. These drugs alone accounted for
