As President Obama noted in his State of the Union Address, “the Affordable Care Act is helping to slow the growth of health care costs.” This is borne out in a recent report from the Congressional Budget Office (CBO).
The New York Times reports that the CBO shows the nation is experiencing a prolonged and persistent slowdown in the growth of health care costs. In fact, between 2009 and 2011, total health spending grew at the slowest pace since the government started keeping records more than 50 years ago. Recent data suggests that the encouraging trend continued in 2012.
What is behind the slowdown in health care costs? While there is no single answer, experts point to the structural changes that the health care industry has undergone. CBO chief Douglas W. Elmendorf attributes a ‘significant’ part of the cost slowdown to this type of change and reorganization.
At Partners HealthCare we are leading the way forward on change.