Why health-care costs are rising in the U.S. more than anywhere else
Dylan Bestler on March 1, 2022
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Health-care spending is rising around the world, but the U.S. is the worst performer. The United States accounts for more than 40% of all global health spending.
Health-care spending made up 5% of total U.S. GDP in 1960. In 2020, spending hit almost 20% of the total U.S. GDP.
“Health care almost always outpaces inflation, and so health-care costs grow faster than the economy,” said Cynthia Cox, vice president at the Kaiser Family Foundation. “That’s why it’s representing a larger and larger share of the economy.”
Americans aren’t using more health care than people in other nations that spend less. Instead, U.S. residents pay more for each interaction. Hospitals, physicians, and clinical care made up more than half of the total healthcare spending in 2019.
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