Healthcare Spending for 2008: Lower Due to Economic Recession

 Healthcare spending for 2008 was found to have increased only 4.4% from the previous year and was responsible for 16.2% of the GDP for that year. The graphic to the left, from the New York Times, notes that this is a historic low for the last 48 years. The reduction in spending is largely attributed to the severe economic downturn that climaxed last year and reduced the consumption of medical goods, along with tens of thousands losing insurance coverage.

It is unlikely that the rate of healthcare spending will decrease in the coming years if the economy recovers.

Michael Shusterman is the Editor in Chief of TuftScope (2009 - 2010). Read more... Graphic credited to The New York Times.