Lack of competition in America’s big hospital markets raises medical costs to individuals and families. And Congress can do something about it.
In 2020, Americans spent an estimated $4.1 trillion on health care, and hospitals accounted for the largest share of that: $1.3 trillion. The Centers for Medicare and Medicaid Services (CMS) estimates hospital spending will grow 6.9 percent this year, far outpacing the projected growth of the national economy.
Big hospital costs do not necessarily translate into better value for health care dollars.
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