Introduction to the Health Care Industry Health Expenditures and
Services in the U.S.: Health care costs continue to rise rapidly
in the U.S. and throughout the developed world. Total U.S.
health care expenditures were estimated to be $2.8 trillion in
2012, and are projected to soar to $3.5 trillion in 2016. The
health care market in the U.S. in 2012 included the major
categories of hospital care (about $884.7 billion), physician,
dental and clinical services ($735.4 billion), prescription
drugs ($367.4 billion), along with nursing home and home health
($232.7 billion). Registered U.S. hospitals totaled 5,754
properties in 2010, according to an American Hospital
Association survey, containing 941,995 beds serving 35.9 million
admitted patients during the year. Medicare, the U.S. federal
government’s health care program for Americans 65 years or
older, provided coverage to 50.7 million seniors in 2012.
National expenditures on Medicare for fiscal 2012 were projected
to be $590.8 billion, including premiums pai