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US healthcare spending rose 7.5% in 2023, government report says

In 2023, U.S. healthcare spending increased by 7.5%, reaching $4.8 trillion, according to a report from the Centers for Medicare & Medicaid Services (CMS). This rise was influenced by several factors including the end of the public health emergency for COVID-19, which led to a decrease in related spending, and an increase in Medicaid enrollment due to the continuous enrollment provision ending. The report highlighted that while spending on private health insurance and out-of-pocket costs grew, the growth in Medicare spending slowed due to fewer enrollees. Additionally, the healthcare sector saw a significant increase in the use of telehealth services, which continued to grow even after the peak of the health crisis. The CMS also noted that the overall healthcare spending as a percentage of GDP was 17.3%, slightly down from the previous year due to economic recovery.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/politics/government/us-healthcare-spending-rose-7-5-in-2023-government-report-says/ar-AA1w7cFP ]