Growth in the cost of health care has put sustained downward pressure on wages and incomes

  • Rapid growth in the cost of U.S. health care has put sustained downward pressure on wages and incomes.
  • This rapid growth of spending has not purchased notably high-quality care, however.
  • U.S. spending on health care is higher than in peer countries, while quality is lower.
  • These high costs cannot be attributed to overuse of health care in America; instead, it is clear that the high price of health care is the culprit. Prices for pharmaceuticals, physician salaries, and medical procedures are almost uniformly higher in the U.S. than in peer countriesā€”sometimes staggeringly so.

Source:Economic Policy InstituteĀ 

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