Wednesday, September 25, 2013

2012 Spending trends of American Healthcare

The Health Care Cost Institute has recently come out with their report on the spending trends of Americans when it comes healthcare.  In 2012, one of the biggest take aways, according to the USA Today, was that there was an overall increase of Americans spending on healthcare per year - it was up $181 to $4701 - an average of 4%. Also interesting to note was that, as expected, with the average 25% increase in price for branded drugs, their use plummeted. Consumers looked towards the generic drugs, which jumped 8%. The study did find that more people were overall were taking and filling their medications in the generic form. What this shows is that more people are seeking care - and could possibly save money for the future with the preventative care.

Another increase in healthcare spending was for individuals between the ages of 19 and 25. Their spending rose 5.4% - which is attributed to the fact that part of the Affordable Care Act allows young adults to stay on their parent's insurance longer.

The Economix at the New York Times takes a further deep dive to find out why Americans still feel that they are paying more for healthcare even though the numbers look like they are steady.  They are - as many of the centers for healthcare, such as hospitals and care centers - are increasing the amount of money a consumer pays out of pocket for care.  So the hospitals and health insurers are saving money, but the consumers are the ones who are contributing more to their care.  They also point out that the 4% increase from the consumers has come from a different direction - those for alternatives to emergency care and specialists to primary care doctors who are more affordable.

This March at Partnerships in Clinical Trials, we'll be looking at some of the various initiatives that can contribute to innovation of the clinical industry including the TransCelerate, Innovation and Drug Development in the Future and more.  To get the latest information on the 2014 agenda, sign up for email updates.

How much, you opinion, does the current clinical trial system contribute to the growing costs of healthcare?  Is there anything that can be done to changes this?

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