CMS just reported US healthcare spending topped $4.3 trillion in 2021…almost $13,000 per person.
Meanwhile work comp medical spend for 2021 was likely around $32.5 billion…or 0.74% of US healthcare spend.
Government accounts for about 2/3 of total spend, among private employers Amazon has more health plan participants than any other company…
chart courtesy Mark Farrah and Associates
Old friends and colleagues Adam Fowler and Kevin Tribout’s latest edition of the Policy Guys podcast is up here. Honored to be part of the pod, especially with such distinguished hosts!
Off to Baton Rouge to get together with my friends at LWCC – looking forward to great food and better people.
2 thoughts on “Thursday catch-up; total US medical spend, largest employers, and the Policy Guys Pod”
I think it is very important for those of us in the WC space to keep our relative size in proper perspective: we represent only 3/4 of 1% of US Healthcare spend! We should keep this in mind as we develop new products and services to “improve healthcare delivery.” We should narrow our focus to design real and impactful policies and practices that can improve Workers’ Compensation healthcare delivery.
Well said Tim – regulators most of all should acknowledge and factor this in…far too many want “work comp docs” to so something unique and special, not appreciating that a) most never will and b) most only treat a couple WC patients every year.
Looking at you, New York…
be well Joe
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