ANN ARBOR, Mich.--(BUSINESS WIRE)-- <\/p>\n
National health care spending in March 2013 grew 3.8 percent relative to March 2012, one-tenth below the February rate, putting it below the record low levels seen annually in 2009 2011, and below our estimate of 4.3 percent for 2012. Meanwhile, health care employment may finally be slowing with an average gain of 19,000 jobs per month for 2013, compared with 27,000 per month during 2012. <\/p>\n
Health care prices in March 2013 were 1.6 percent higher than in March 2012, one-tenth below the February rise, and second lowest reading since December 1997s 1.3 percent figure. The 12-month moving average at 1.9 percent is the lowest rate since a 1.8 percent reading recorded in October 1998. <\/p>\n
Health care employment rose by 19,000 jobs in April 2013, matching the average growth for the first four month of the year. With a better than expected 165,000 economy-wide jobs created, plus upward revisions for February and March totaling 114,000, the health sector share of total employment dropped slightly to 10.72 percent, off the revised all-time high of 10.73 percent last seen in January 2013. <\/p>\n
These data come from the May Health Sector Economic IndicatorsSM briefs released by Altarum Institutes Center for Sustainable Health Spending. The briefs, covering health care spending, utilization, prices, and employment are at http:\/\/www.altarum.org\/HealthIndicators<\/a>. <\/p>\n The somewhat slower growth in health spending is driven by slower health care price growth which, in turn, is following slower economy-wide inflation, said Charles Roehrig, director of the Center. Our research suggests that the recession continues to push down on health spending, cutting growth by a percentage point or more. And while the data are noisy, health providers may finally be cutting back employment in light of reimbursement pressures. <\/p>\n The health spending share of GDP was 18.1 percent in March, up from 16.4 percent at the start of the recession in December 2007. Implicit per capita health care utilization averaged 1.3 percent growth over the last 12 months. <\/p>\n Altarum Institute (www.altarum.org) integrates objective research and client-centered consulting skills to deliver comprehensive, systems-based solutions that improve health and health care. Altarum employs more than 400 individuals and is headquartered in Ann Arbor, Mich., with additional offices in the Washington, D.C., area; Atlanta, Ga.; Portland, Maine; and San Antonio, Texas. <\/p>\n<\/p>\n <\/p>\n Follow this link:<\/p>\n Growth of Health Care Spending, Prices & Employment Each Head Lower<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" ANN ARBOR, Mich.--(BUSINESS WIRE)-- National health care spending in March 2013 grew 3.8 percent relative to March 2012, one-tenth below the February rate, putting it below the record low levels seen annually in 2009 2011, and below our estimate of 4.3 percent for 2012. Meanwhile, health care employment may finally be slowing with an average gain of 19,000 jobs per month for 2013, compared with 27,000 per month during 2012. Continue reading