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The drug industry’s business model is unraveling after years of bankable growth. Some of the healthcare industry’s most prominent executives and officials will discuss their strategies for change at the 2011 Reuters Health Summit, from May 9-12 in New York.
Growth in U.S. healthcare spending per person — the highest in the world — slowed in 2009 to its smallest increase in five decades as high unemployment led Americans to tighten their budgets . Spending on hospital services, doctor visits, medicines and other health needs rose 4 percent to $2.5 trillion in 2009 compared with 4.7 percent in 2008 (Health Affairs, January 2011). The healthcare industry expects that rate to pick up again as families find they can no longer postpone a trip to the doctor or elective medical procedure.