New AMA Report Explains Where Our Health Care Dollars Are Spent

Researchers for the American Medical Association have taken a deep dive into the nation’s health care spending in 2023. Their recently released report unveils some disturbing new numbers and trends:

• Americans’ health care spending topped $4.86 billion, increasing by 7.5%, more than twice the nation’s overall annual rate of inflation for 2023 (3.4%).
• The remarkable spending growth was driven by our increased use of health care services and a historically high number of Americans with health insurance.
• Hospital care accounted for nearly a third (31.2%) of Americans’ health care spending; physician services accounted for 14.8%, prescription drugs accounted for 9.2%, and insurance premiums 6.2%.

The numbers point to cost increases in every area, but they do not reflect how individuals and families were affected. Voices for Affordable Health would like to hear from you.

Is health care consuming more of your household budget? How are you managing? Share your story with us!

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