Medical Device Spending a Small Piece of the Healthcare Pie: AdvaMed

June 18 01:00 2014 by ushadmin

AdvaMed has released a new study stating that medical device spending is slow relative to other healthcare costs. From 1989 to 2011, the cost of medical technology has increased at roughly one-third of the rate of the broader economy and one-fifth the rate of other healthcare goods and services. In 2011, the cost of medical technology increased 0.7%—roughly one fifth the rate of overall inflation.

Although the amount of money spent on medical devices (as a share of national healthcare expenditures) has wavered since 1992, it has hovered around 6%. Nearly all of the increase in device spending relative to overall healthcare costs occurred between 1989 and 1992, the study notes…