Every year, Health Affairs publishes a retrospective look at national healthcare spending. In 2020, Anne Martin and colleagues from the CMS Office of the Actuary found that U.S. healthcare spending increased 4.6% to $3.8 trillion in 2019.

The rate of health spending declined slightly from 2018, which noted a growth rate of 4.7%. Hospital care, physician and clinical services, and retail purchase of prescription drugs, which accounted for 61% of total national health spending, saw faster growth rates in spending in 2019.

These figures predate the coronavirus, which has led to major changes in healthcare delivery and spending.

In this week’s episode of A Health Podyssey, Alan Weil invites Sherry Glied, dean of the Robert F. Wagner Graduate School of Public Service at New York University, to the program. They take a step back from the main findings from the paper and discuss the relationship between administrative costs and the high costs of healthcare prices.

Listen to Sherry Glied share why she thinks value-based care won’t be transformational and how public health is a desirable field to choose a career in now.

Value-based care isn’t transforming healthcare spending