Male doctor counting money.

Health insurers expect global medical costs to increase by double digits for the third consecutive year, according to a survey conducted by WTW. Survey respondents cited increased utilization of health services, rising pharmacy costs and new medical technologies as the primary drivers of overall medical costs.

“With medical cost increases remaining at double-digit levels, employers will need to manage budget expectations and balance cost increases with data-driven business and health outcomes,” said Linda Pham, global health and risk leader, Integrated & Global Solutions, for WTW. “The seemingly never-ending rise in costs poses a constant challenge for employers to take action in order to mitigate these unsustainable increases.”

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