healthcare inflation

Healthcare inflation refers to the rising costs of medical services, prescriptions, and health insurance over time. This increase is driven by factors like advanced medical technology, higher demand for healthcare, aging populations, and rising prices of drugs and equipment. As these costs grow, insurance premiums, out-of-pocket expenses, and government spending on healthcare also tend to increase. Healthcare inflation impacts individuals and governments by making medical care more expensive, potentially limiting access and increasing financial strain. Understanding this trend is important for planning personal finances and policy development aimed at controlling costs while maintaining quality care.