Healthcare spending has reached exorbitant levels, and providers are tasked with reducing overall healthcare costs.
The Motley Fool outlines nine key statistics on healthcare spending in 2015:
1. U.S. healthcare expenditures totaled $3.2 trillion, which averages to $9,900 per person according to CDC data.
2. Hospital care comprised the bulk of healthcare spending in 2015 at 32.3 percent. CDC data also found physician and clinical services trailed behind at 19.8 percent, followed by retail outlet sales of medical products at 13.5 percent.
3. Prescription drugs constituted 10.1 percent of national healthcare spending and nursing care facilities and continuing care retirement communities accounted for 4.9 percent.
4. Dental services comprised 3.8 percent of national healthcare spending in 2015.
5. Prescription drug spending is rapidly growing, with spending in this area increasing by 9 percent to $325 billion between 2014 and 2015.
6. Despite this growth, prescription drug spending rose 12 percent between 2013 and 2014.
7. During retirement, the average 65-year-old couple will pay an average of $260,000 in out-of-pocket costs.
8. The federal government covered 28.9 percent of national healthcare spending.
9. Households covered 27.7 percent of healthcare spending and private businesses paid for 19.9 percent.