Posted on Monday, February 22, 2021
According to data reviewed by Altarum, a nonprofit research and consulting firm, healthcare spending decreased in 2020.
“[Spending] on prescription drugs and home health care actually increased for the year, the latter likely related to individuals selecting home care rather than nursing homes to avoid exposure,” the Altarum analysis reads. However, spending on hospital care went down by 7% and spending on physician and clinical care decreased by 4.3%.
“Largely due to the COVID-19 virus and widespread efforts to keep vulnerable populations out of congregate settings, spending on nursing home care decreased by 2.5% in 2020 compared to 2019, according to Altarum. Meanwhile, spending on home health care jumped by an estimated 2%.”
Click here for the full article.
About Corridor
For over 30 years, Corridor has partnered with home-based care providers, delivering powerful solutions to support the unique challenges of caring for patients in the home. Our team of operating executives, clinicians, and nationally renowned industry experts have run provider organizations and resolved the same challenges you face.
Focusing on key operational, regulatory and financial challenges, Corridor delivers solutions and deep expertise in coding, clinical documentation, compliance, billing and education.
To receive the most important industry updates, insights and news impacting home health and hospice, please make sure to sign up for our weekly newsletter.
