Home health spending grew by 9.4% and nursing home care spending grew by 9.2%, placing them among the fastest-growing categories of healthcare spending in January, according to Altarum’s monthly Health Sector Economics Index. The sectors were outpaced only by dental services, where growth in spending was 10.6%.
The underlying reasons for the spending growth likely differ between nursing homes and home health, Corwin “Corey” Rhyan, MPP, Altarum research director of health economics and policy, told the McKnight’s Business Daily.
“First, the price growth component of the nursing home spending increase was much greater in January (5.2% year-over-year growth) and continued to increase into February (5.6%),” he said. “Conversely, price growth in home healthcare has been relatively moderate (1.9% in January and February), indicating home health spending increases are more driven by increases in utilization.” Read more.
