News of the Day ... in Perspective12/12/2003
Medical spending growth down in first half of 2003
The rate of increase in per capita medical spending slowed in the first half of 2003 to 8.5% for all services, 7.6% for hospital services, 12.9% for out-patient services, 6.1% for physicians, and 8.5% for prescription drugs, according to an Associated Press story.
The slowdown is believed to result from greater cost-sharing by patients, stated Paul Ginsburg of the Center for Studying Health Systems Change.
One specific reason for the slowdown in spending growth for prescription drugs is that Claritin went over the counter and is thus no longer covered by third parties.
100 Years of Market Distortions by Greg Scandlen available on request from [email protected]