Massachusetts healthcare spending increased for the second year. Pharmacy services, hospital inpatient, hospital outpatient, and physician services all increased in 2019. Notably, prescription drug spending increased by 7.2 percent in 2019, making it the largest area of growth.
“Hospital outpatient spending increased the most compared to the other three largest commercial service sectors, with 8.1 percent expenditure growth, followed by gross pharmacy spending with an increase of 6 percent. The report noted that for the first time in several years, hospital outpatient spending accounted for the largest percentage of total commercial expenditures in 2019.…[I]ndustry payers reported weakening profitability of fully insured stream of business in 2019 due to losses in the merged market (individual and small group).” Read more here.
(Source: Hannah Nelson, 3/29/21)