New report debunks myth that aging population is overcrowding US healthcare, driving US cost up
Published on Tuesday, November 12, 2013 by Common Dreams
by Jacob Chamberlain, staff writer
Contrary to the popular notion that an aging population is driving up total U.S. healthcare costs, it is actually unrelated jumps in pricing for services and medicine that is taking a toll on America's wallets, according to a new study by the American Medical Association.
(Associated Press) Between 2000 to 2011 alone, U.S. healthcare spending increased from $1.6 trillion to $2.7 trillion. Since 1980 costs have tripled. This "big leap," as Ben Hallman at The Huffington Post writes, owes itself "almost completely to factors other than increased demand, from the elderly or anyone else."
As the report states, "Since 2000 price, especially of hospital charges, professional services, drugs and devices, and administrative costs, not demand for services or aging of the population, produced 91% of cost increases."