Healthcare services and social assistance, such as child and youth services, accounted for $1.2 trillion of the U.S. economy in 2002, up from $1.1 trillion in 2001, the Census Bureau said in a new report. Total revenue for all U.S. hospitals, including general, psychiatric, substance abuse treatment and specialty, rose 9.7% to $507.2 billion in 2002 from $462.2 billion in 2001, the bureau estimated. Physician offices collected $249.6 billion, outpatient centers $72.2 billion and home health providers $34.4 billion in 2002. Nursing homes and assisted-living facilities generated $122.9 billion in 2002 revenue, up from $116.4 billion in 2001. Hospitals received about 37% of their 2002 revenue, or $188 billion, from private insurers and about 32%, or $163 billion, from Medicare. The remainder came from Medicaid and other government programs, patient out-of-pocket spending and other sources. Read the report. -- by Jeff Tieman
Health, social services a $1.2 trillion industry
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