US Healthcare Spending to Hit $9T by 2028

Poor health is costly. 

The news: US healthcare spending reached a staggering $4.9T in 2023, up 7.5% from 2022. 

• Healthcare accounts for 17.6% of GDP. 
• Per person costs climbed to $14,570 annually.
• Spending is set to top $9T by 2028, surpassing 20% of GDP.

Code red. America’s current system is buckling as more people seek care while prices rise for everything from hospital visits to meds.

In particular, private insurance spending surged 11.5%, Medicare spending grew 8.1%, and hospital services jumped 10.4%. 

Of note, prescription drug costs also surged 11.4%, with diabetes and obesity meds contributing. 

Breaking point. Dissatisfied with the quality of care, more Americans are turning to alternative treatments, preventative measures, and longevity protocols. But, services requiring out-of-pocket payments remain out of reach for most.

Punchline: With an aging population, rising costs, and worsening outcomes, the time is now to rebuild the system and prevent collapse.