According to the McKinsey Global Institute, health care spending in 2003 was $1.7 trillion and $477 billion was more than would be expected in comparison with thirteen peer countries comprising the Organization for Economic Co-operation and Development (OCED), even adjusting for wealth. Hospital and physician care accounted for nearly 85 percent of 2003 spending above the expected. In 2006, health care spending was $2.1 trillion and $650 billion was more than would be expected in comparison with OCED countries, adjusting for wealth. Outpatient care including that of hospitals was the largest and fastest growing segment accounting for $436 billion of the $650 billion. Drugs were $98 billion and administration was $91 billion.
Labels: Health Care Expenditures