HCCI recently released their second Health Care Cost and Utilization Report for year 2011. The findings from 2011’s report reflect healthcare spending of about 40 million employer-sponsored insured individuals. The HCCI report included findings from a procedure called ‘completion’, in which actuaries estimate metrics for claims that were incomplete.
The report shows that average dollars spent on health care services rose 4.6 percent in 2011, reaching $4,547 per person. This was well above the 3.8 percent growth rate observed in 2010, inferring that 2011 may be a transition year. Total spending grew to $709.2 billion, and per capita spending rose the quickest for children, at 7.7%. Out of Pocket payments and Health Plan Capita Spending also increased, at 4.6% and 4.5% respectively. With a decline in inpatient utilization, the category with the highest prices, HCCI found spending growth was driven primarily by increases in the prices paid. Our infographic offers a quick snapshot of the report findings.
2011 HCCI Report Highlights:
- Spending per capita grew the fastest in the northeast region
- Most healthcare dollars were spent on procedures by health professionals
- Cost sharing between patients and payers remains stable
- Use of health care services increased; particularly in outpatient care
- Rising prices were the primary driver of spending growth, despite growth in utilization
- Prescription spending slowed, growing just 1% from 2010 to 2011
To read the complete report, click here.