Medicaid spending also decelerated in growth compared to previous years, increasing 3.9% to $565.5 billion.
Authors of the CMS report said spending growth slowed a year ago for all three major categories of medical goods and services - hospitals, physician/clinical services and retail prescription drugs - for the first time since 2010. That's down from 5.8% in 2015 and 5.1% in 2014.
The pace of health care spending in America slowed in 2016, the Centers for Medicare and Medicaid Services reported Wednesday. Retail prescription drugs Retail prescription drug spending increased just 1.3% previous year, following much stronger growth rates in 2014 (12.4%) and 2015 (8.9%).
Private insurer spend increased 5.1% to $1.1 trillion in 2016 (roughly 33% of all health expenditures), which is a slowdown from the 6.9% growth seen in 2015.
Medicare, the federal health program for the elderly, and Medicaid, the government's program for the poor, each reduced spending and fewer people enrolled in private health insurance following a big coverage expansion under Obamacare. CMS attributes the slowdown to a wider slowdown in spending growth for retail prescription drugs, hospital care and physician and clinical services. Despite the slower growth in 2016, healthcare spending still increased faster than the GDP growth rate. Private health insurance continued to be the largest payer for health care goods and services in the USA in 2016-accounting for just over one-third of total healthcare spending.
Together, Medicare and Medicaid made up 77% of home health spending in 2016. As a share of the nation's Gross Domestic Product, health spending accounted for 17.9 percent.
Scharf Investments LLC Holds Stake in Dollar Gen Corp New (DG) Dollar General still plans to open about 1,285 new stores, as well as remodeling or relocating 760 locations, in fiscal 2017. The stock of Dollar General Corporation (NYSE:DG) has "Outperform" rating given on Monday, April 4 by Macquarie Research.
As the spending rate for USA health services slowed down across most forms of healthcare industries, there was one section that increased: out-of-pocket health charges.
Private health insurance spending climbed 5.1 percent to $1.1 trillion past year, Medicare spending increased 3.6 percent to $672.1 billion, and Medicaid spending rose 3.9 percent to $565.5 billion.
In all, payers spent $162.7 billion on care at nursing homes and continuing care retirement communities (CCRCs), an increase of 2.9% from 2015.
"The faster growth in 2016 was due in part to a continued shift towards enrollment in high-deductible health plans, which was somewhat offset by a continued decrease in the number of uninsured in 2016", according to CMS. During the years of the initial impacts of the ACA expansion, Medicaid spending rose 9.5% last year and 11.5% in 2014 as individuals gained coverage. A year before, spending on such drugs grew by 8.9 percent, and in 2014 by 12.4 percent.
Hartman attributed the deceleration in 2016 to a decline in spending for drugs used to treat hepatitis C, the introduction of fewer new drugs, and slower growth in prices for both brand-name and generic drugs. On a per capita basis, national health spending grew at 3.5%, reaching $10,348 a year ago.
The Maryland-based Proshare Advisors Ltd Com has invested 0.05% in Jazz Pharmaceuticals Public Limited Company (NASDAQ:JAZZ). Zacks Investment Research's EPS averages are a mean average based on a survey of analysts that follow Gilead Sciences.
Um, what is a Christmas tree Frappuccino exactly? It's also topped with whipped cream and Caramel Brulée topping. The Frappuccino base, although not particularly Christmas-coloured, tasted like pure peppermint-chocolate bliss.
PointState Capital LP purchased a new position in MGM Resorts International in the 2nd quarter worth approximately $239,347,000. The stock of MGM Resorts International (NYSE: MGM ) earned "Outperform" rating by Telsey Advisory Group on Tuesday, November 8.
Davidse excelled at the par fives, claiming birdies at all three, Another five birdies came at par fours with one at a par three. He is joined by James Morrison, Sebastian Heisele and South African trio Jared Harvey , Erik Van Rooyen and Ockie Strydom .
In a later meeting with reporters, Pelosi offered a list of reasons - including defense spending - for not supporting the CR deal. But GOP leaders needed those conservatives to support the measure in the House because Democrats broadly refused to vote for it.
They will also be able to select recommended local destinations and sightseeing routes, depending on what they want to do. Japanese vehicle giant Nissan has announced it will begin testing autonomous "robo-taxis" in Yokohama from March.
BMO Capital Markets downgraded Occidental Petroleum Corporation (NYSE: OXY ) on Wednesday, January 11 to "Market Perform" rating. Several other institutional investors have also sold shares of the company. 123 funds opened positions while 438 raised stakes.
Bernie Thompson, a Mississippi Democrat, also will not attend, and released a joint statement with Lewis on Thursday. He said he planned to boycott the inauguration for the first time in three decades, which he did.
The family rushed the baby to a nearby nursing home in Pitampura, while the mother remained at Max Hospital as she was very weak. But to their utter horror, the family found that the boy was still alive, while they were on way to do their final rites.
The IIHS is putting more focus on passenger safety this year with the addition of a new small-overlap front passenger crash test. Every year, the Insurance Institute for Highway Safety names only a handful of vehicles with its Top Safety Pick + honor.
Saudi prince is $450.3 mn Da Vinci art buyer at auction
It is one of fewer than 20 paintings generally accepted as being from the Renaissance master's own hand, according to Christie's. Christie's told the Times it did not comment on the identities of any buyers , and Bader did not respond to request for comment.
Stipe Miocic Vs Francis Ngannou Set For UFC 220 In January
With her unanimous decision win, the new UFC champion makes her top-10 debut at No. 7, while Modafferi falls four spots to eighth. Most recently, he briefly disconnected Alistair Overeem from the mortal plain with a thunderous uppercut.
Creek Fire: Firefighters steadily increase containment
Tuesday's warnings are scheduled to expire at 6 p.m., but forecasters say Santa Ana winds could persist into Friday or Saturday. Although numerous homes were charred on Tuesday, firefighters were still dousing hot spots that flared up on Thursday morning.
Arizona GOP Rep. Trent Franks will resign, sources say
Franks was seen huddling with fellow Republicans on the floor of the House Thursday, in what appeared to be a prayer circle. The general election must be held no less than 50 and no more than 60 days after the primary.