Here are five other things to know from the report:
1. Total spending per person increased by 4.6 percent in 2016, which is a 0.5 percent increase year-over-year. Between 2012 and 2014, spending held steady in the sub-3 percent percentile.
2. Between 2012 and 2016, total spending increased because of rising costs throughout healthcare. Administered drugs, emergency room visits and surgical hospital admissions drove up spending during the aforementioned period.
3. The institute found prescription drug spending grew 27 percent since 2012, despite decreased generic drug prices and a decline in brand name prescription drug utilization. Increased prescription drug cost drove the growth.
4. The institute also found while emergency room visits rose only slightly in 2016, an increase in ER pricing accounted for a 31.5 percent increase in ER-related spending from 2011 to 2016.
5. Despite the increased costs across the industry, utilization remained unchanged between 2012 and 2016.
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