Health Care Cost Growth Rate Down Year Over Year In 2024, Skilled Nursing Cost Growth Increased

Health care cost rates grew by 2.8% year over year in April 2024, down from 3.1% in March 2024. However, the growth rate in the cost of skilled nursing facility (SNF) care outpaced the cost growth rate in the rest of the sector, with a year-over-year growth rate increase of 4.5% since April 2023, compared to 2.5% for home health care for the same period.

Medicaid price growth exceeded that of other payers in the first four months of the year, at 6.3% as of April 2024. In comparison, price growth increased by . . .