Healthcare Costs to Jump by 7% in 2024

July 3, 2023

A report by PwC projects that healthcare costs will rise by 7% next year. The report was based on interviews with major payer organizations covering over 110 million patients in the US. Estimated increases in costs are attributed to labor shortages, rising drug prices, provider contracts, and more.

According to Frank Diamond, “Health plans see other factors at play for the rest of this year and next year, and while those might spur hope for controlling costs, that hope will arrive sometime in the future, having negligible effects on what’s going on now. For instance, insurers will keep investing in total cost of care initiatives such as value-based care.”

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(Source: Fierce Healthcare, June 30th, 2023)

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