Milliman recently released their 2020 Milliman Medical Index. Here are some key findings from the report on healthcare costs:
- In 2020, healthcare costs for a hypothetical family of four reached $28,653.
• Healthcare costs for the average person are at $6,553 this year.
• Healthcare costs grew by 4.1% this year, outpacing growth in gross domestic product.
• Hospital costs rose by 15% in the past 3 years, compared to 10% for other services.
Source: Milliman, May 21, 2020
Why is the actual spend in this country $3.5 trillion in total healthcare send in all sectors?
Milliman releases this number, but the $3.5 trillion dollars figure comes from a 2017 CMS study showing healthcare spending was $10,739 per person. That was three years ago.
Regardless of the more accurate statistic, why did we win the consolation prize?
Why do we pay four times more for prescription drugs than other industrialized nations? Because our politicians allow it.
Why should we continue to spend so much on something that is not the best in the world? It’s very good, but it’s not the best.
One of the reasons why costs are so high: 42.4% obesity and 9.2% severe obesity in this country. Eighteen years ago, adult obesity prevalence was 30.5% and severe obesity was 4.7%. Get real. It’s abuse, it’s waste, and no one takes accountability.