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Medical Device Numbers: Cost Pressures Mount in 2012


Posted by Brian Buntz on November 30, 2012

This past year, the costs of healthcare in the United States has continued to escalate and the trend is expected to continue. PwC's Health Research Institute projected that, in 2013, overall healthcare costs would grow at 7.5% while the GDP rises at the rate of 2.4%.

 


$4.6 trillion

Amount of money projected to be spent on healthcare in the United States by 2020.

Source: " National Health Spending Projections Through 2020: Economic Recovery And Reform Drive Faster Spending Growth" published in Health Affairs. Image from Flickr.

1.6%

The average amount that U.S. healthcare costs per person have exceeded the nation's economic output over the past 25 years.

Source: "The 2012 Long-Term Budget Outlook" report published by the Congressional Budget Office.
Image from Flickr.

1%

That volume of patients responsible for one-fifth of U.S. healthcare costs, according to federal data.

Source: "The concentration and persistence in the level of health expenditures over time: Estimates for the U.S. population, 2008-2009" report published in MEPS Statistical Brief No. 354.

1/2

Proportion of people in the United States who have at least one chronic condition.

Source: "An Unhealthy America: The Economic Burden of Chronic Disease" report published by the Milken Institute. Image from Wikimedia.

 

75%

Share of U.S. healthcare costs linked to chronic diseases.

Source: "Chronic Diseases: The Power to Prevent, The Call to Control" report published by the Centers for Disease Control and Prevention. Image from Flickr.

 

7 out of 10

Deaths among U.S. citizens each year from chronic diseases.

Source: "Chronic Diseases: The Power to Prevent, The Call to Control" report published by the Centers for Disease Control and Prevention.

 

85%

Percent of hospital executives who report being "very concerned" about how reduced reimbursement rates would affect their facilities’ bottom line in 2012.

Source: "Hospital Executives" survey commissioned by ITG Market Research. Image from Flickr.

 

$15.8 billion

Amount venture capital fell by between 1999 (from $22.4 billion) and 2011 (to $6.6 billion) for medtech companies from start-up to later stage.

Source: "MoneyTree: Reaching for growth" report published by PricewaterhouseCoopers LLP (PwC) and the National Venture Capital Association (NVCA). Image from Flickr.

 

29%

Amount the device industry’s federal income tax bill stands to increase with the debut of the medical device tax.

Source: Report tiltled "Effect of the Medical Device Excise Tax on the Federal Tax Liability of the Medical Device Industry" published by Ernst & Young. Image from Flickr.


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