Healthcare Jobs and Spending Growth Trends

Altarum Institute recently released a Health Sector Economic Indicators brief highlighting the growth surge in the health services sector. Here are some key findings from the report:

·         Over the past 6 months, healthcare has added 226,000 jobs, the largest increase in 25 years.

·         Health job growth now exceeds nonhealth job growth at 2.7% annual growth versus 2.1% annual growth.

·         Health care prices in March 2015 were 1.3% higher than in March 2014 and hospital prices rose 0.4%.

·         Physician and clinical services prices fell 0.6% and prescription drug prices rose 5.7% last year.

·         National health spending in March 2015 was 6.8% higher than in March 2014.

·         At $3.2 trillion, health spending now represents 18.1% of gross domestic product.

Source: Altarum Institute, May 13, 2015