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As healthcare spending escalates in the US, stakeholders have started looking at value-based payment models to address rising costs, but many payments are still tied to fee-for-service models, according to a Health Affairs research brief.
During 2020, the first year of the COVID-19 pandemic, healthcare spending accounted for 19.7 percent of US gross domestic product (GDP). Previously, researchers had predicted that it would not reach that level until 2028.
Health Affairs started the Council on Health Care Spending and Value in 2019 to study excessive healthcare spending in the US and share strategies to address it. The research brief is part of a series that informed the council’s inquiry into healthcare spending drivers and interventions.