What’s Behind Exorbitant Healthcare Costs?

According to a new study published in the Journal of the American Medical Association, the reason behind high healthcare costs is price increases, not a larger senior population. More recently, it has been theorized that a much larger aging population and their demand for services due to chronic conditions was the culprit behind these costs.  But, researchers who examined publicly available data determined that healthcare costs “exceed any other industry as a share of gross domestic product.”  91% of cost increases can be attributed solely to price increases since hospital charges, professional services, drugs, devices, and administrative costs are much higher than they ever were.

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