U.S. healthcare spending did not become as large a percentage of gross domestic product as had been projected between 1992 and 2000 thanks to managed care and the Balanced Budget Act of 1997, the Employee Benefit Research Institute said. In 1992, the federal government projected healthcare would consume 18.1% of the GDP by 2000. Instead, healthcare represented 13.3% of the GDP that year, the institute said. Total healthcare spending grew 8.7% in 2001 to $1.4 trillion. Between 1970 and 2001, both the private sector's and consumers' contribution declined, as government spending rose. -- by Tony Fong
Managed care, budget act kept spending down: report
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