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CMS: Healthcare spending to rise 5.8% while physician prices continue to fall: 6 things to know

From 2015 to 2025, CMS projects healthcare spending will rise 5.8 percent, according to MedPage Today.

Here are six things to know:

1. In 2015, estimates projected healthcare expenditures hit $3.2 trillion.

2. CMS estimates healthcare spending will surpass Gross Domestic Product each year by 1.3 percentage points between 2015 and 2025.

3. Healthcare spending was expected to reach 5.5 percent, slightly up from 5.3 percent in 2014. However, a CMS official Sean Keehan said healthcare spending is projected to decrease to 4.8 percent in 2016 due to decreasing enrollment in Affordable Care Act exchanges and Medicaid plans.

4. While physician and clinical services spending rose 5.4 percent in 2015, medical prices increased merely 0.8 percent last year. Physician prices fell 1.1 percent last year.

5. CMS projects Medicare expenditures to total $647.3 billion in 2015, up 4.6 percent from 2014. Private health insurance expenditures are projected to have increased 5.1 percent last year, hitting $1 trillion.

6. Between 2016 and 2025, CMS expects prescription drug spending to increase 6.7 percent per year, on average.

More articles on coding & billing:
Shopping for care: New healthcare tool aims to further price transparency
How Obama would change the ACA: 5 things to know
$900M Medicare funding boost to enhance preventive medicine in 2017: 5 things to know

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