November 9, 2007, Newsletter Issue #68: Breakdown of American Healthcare Spending
Tip of the Week
We all know that many American dollars are being spent on healthcare services. In fact, in 2003 alone, people in the United States spent $1.7 trillion on healthcare services. But where exactly is all this money going?
1. We spent almost one third of our healthcare money, $542 billion, on visits to the doctor or dentist. While these visits are typically not too pricey, they are numerous.
2. $516 billion was spent on hospital care. In 2003, only 7% of Americans reported spending the night in the hospital. Since hospital care is so expensive, however, this category is the second most expensive type of healthcare.
3. The remainder of our $1.7 trillion was spent on prescription drugs. With more new drugs to buy, we are spending more of our healthcare money than ever before on prescriptions.
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