So far in 2020, health services revenue has fallen by 2.4% compared to 2019. Year-to-date, health services spending is down by 2.4%.
When the coronavirus pandemic hit last spring, everyone in the industry knew it would have a significant impact on health-care utilization and spending. However, no one was sure whether it would drive spending up or down.
As 2020 winds down, the Peterson-KFF Health System Tracker has summarized how utilization and spending have changed during the pandemic. Available data suggest that by the end of this year, health spending may be somewhat lower than it was in 2019. Any decrease in spending would be historic, because health costs tend to rise faster than inflation and have grown even during past periods of economic downturn.
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