Health Care Prices Are Growing at a Surprisingly Slow Rate
Posted at 8:30 a.m. on Aug. 21, 2014
Vox reports that health care prices continue to grow very slowly.
“The price of medical care commodities, which includes drugs and other medical devices, grew 0.3 percent from June to July. That was one of the lowest monthly increases all year. Growth over the previous year was 3 percent.”
“Prices for medical care services (like health insurance and hospital care) grew an even smaller 0.1 percent over the same time month and 2.5 percent over the year. This matters just as much — or maybe more — than news about total health spending.”
“The federal government isn’t the only one noticing the slow growth. The Altarum Institute, a nonprofit research organization, has charted growth in health care prices, comparing monthly prices to the month of the previous year. While it’s positive overall, growth in the index has been modestly slowing since May.”