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The U.S. spends $3,041 per capita on hospital costs. The next-highest spending nation, Norway, spends $2,382 annually, according to the OECD.Hospital spending—one of the biggest drivers of the rising health care costs in the U.S.—could be cut considerably lower by government regulation of prices than by competition or by more price transparency, a new RAND study said.
The study found that regulation of prices for payers (setting or capping prices) could reduce hospital spending by $61.9 billion to $236.6 billion per year. By comparison, increasing price transparency would cut hospital spending by $8.7 billion to $26.6 billion annually. Increasing competition among hospitals would cut spending by $6.2 billion to $68.9 billion.
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