Total Healthcare Spending

Total spending on healthcare in the US has grown 9% compounded since 1960. Over this period, growth was as high as 12% from 1960-1990 and has fallen to about 6% per year in the period from 1990-2022.

The economy has grown at about half that rate (in nominal terms) during this period. As a result, the healthcare industry has become the largest employer in the US and one of the largest economic forces in the country. Unlike other industries, every person is a participant in the healthcare industry. Our lives depend on it.