Colossal waste in US healthcare spending surpasses military budget at nearly $1 trillion per year, study says ...News

Waste and needless spending in America’s healthcare system could amount to almost $1 trillion each year, topping total US military expenditures in 2019 – the world’s largest defense budget – according to new research. Encompassing administrative overhead, fraud and abuse, inflated pricing and other inefficiencies, a study published this week in the Journal of the American Medical Association found the cumulative waste in US healthcare ranged from $760 billion to $935 annually, or 25 percent of what Americans spend each year on health services. And they spend a lot – approximately 18 percent of the gross domestic product (GDP), or more

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