Hospital. Photo: OLI SCARFF/Getty Images.

The largest health insurers, hospitals and doctors' groups in Rhode Island have agreed to cap their annual spending growth to 3.2% from 2019 to 2022. That's a somewhat aggressive target that is below recent national spending growth.

Yes, but: Guaranteed increases of 3.2% may be a good deal for the groups if they think their costs will grow at even slower rates. And there doesn’t appear to be any way to enforce this, unlike the state health spending law in Massachusetts.

The bottom line: Rhode Island is a small state, but it's still surprising to see the health care industry voluntarily agree to a spending cap.

Go deeper: The steady rise of health care spending rolls on

Go deeper

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Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 11:30 p.m. ET: 20,014,574 — Total deaths: 734,755 — Total recoveries — 12,222,744Map.
  2. U.S.: Total confirmed cases as of 11:30 p.m. ET: 5,089,416 — Total deaths: 163,425 — Total recoveries: 1,670,755 — Total tests: 62,513,174Map.
  3. Politics: Trump claims he would have not called for Obama to resign over 160,000 virus deathsHouse will not hold votes until Sept. 14 unless stimulus deal is reached.
  4. Business: Richer Americans are more comfortable eating out.
  5. Public health: 5 states set single-day coronavirus case records last week — A dual coronavirus and flu threat is set to deliver a winter from hell.
  6. Sports: The cost of kids losing gym class — College football is on the brink.
  7. World: Europe's CDC recommends new restrictions amid "true resurgence in cases."