Growth of Home Care Spending

Stephen Tweed | February 13, 2006 | Newsroom
U.S. health care spending increased 7.9% in 2004 to nearly $1.9 trillion, outpacing inflation and wage growth and amounting to a record 16% of the nation's gross domestic product, according to an annual CMS report published in the January/February issue of Health Affairs, the Miami Herald reports. The combined health care spending by consumers, businesses…

U.S. health care spending increased 7.9% in 2004 to nearly $1.9 trillion, outpacing inflation and wage growth and amounting to a record 16% of the nation’s gross domestic product, according to an annual CMS report published in the January/February issue of Health Affairs, the Miami Herald reports. The combined health care spending by consumers, businesses and government totaled $6,280 per person in 2004, compared with $5,670 in 2003 (Pugh, Miami Herald, 1/10). The rate of growth in health care spending was the lowest since 2000’s spending increase of 6.3%.

Spending on home health services for the elderly and disabled, “while only a small portion of overall spending,” increased more than any other category, up 13.3% in 2004, the Herald reports (Miami Herald, 1/10). The increase was 11.1% in 2003. Spending for home care totaled $43.2 billion in 2004. Medicare spending for home care increased by 19.3% in 2004.

Source: Miami Herald

Stephen Tweed
Stephen Tweed is among the top Thought Leaders in Home Care today. As an industry researcher, author, and executive coach, he has worked with owners and CEOs of companies in the top 5% of Home Care and is a frequent speaker at Home Care association conferences and corporate meetings across the US and Canada.

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