Health Care Prices
Health care prices in October 2013 rose just 0.9 percent above the levels seen in October 2012, the lowest reading in the 50-plus years of data of the monthly Health Sector Economic Indicators released by the Center for Sustainable Health Spending at Ann Arbor’s Altarum Institute.
A net 15,000 health care jobs were created in October 2013, significantly below the two-year average of 21,000 jobs per month, according to new figures from the Ann Arbor-based Altarium Institute.
The Center for Sustainable Health Spending at the Ann Arbor-based Altarum Institute reports that health care prices grew 1.1 percent in July 2013 over July 2012, up from the May growth rate of 1 percent — which was the lowest Altarum has ever recorded.
Health care prices rose nationally just 1.1 percent from April 2012 to April 2013, the lowest annual increase since 1997, and a sharp 0.5 percentage point drop from the rate of increase reported in March from a year earlier.
Health care prices in January 2013 were 1.5 percent higher than in January 2012, two-tenths of a percentage point lower than the December rise, and the lowest reading since a 1.3 percent rate in December 1997, according to Ann Arbor based health care industry consultants Altarum Institute.
National health expenditures in September 2012 grew by 3.7 percent relative to September 2011, ticking down a tenth from the August rate, and representing the fifth consecutive month of below 4 percent growth. At 4 percent, the average monthly rate of growth in spending, year-to-date is barely above the all-time low rate of 3.8 percent recorded in 2009.
Health care job growth slowed in April, with just 19,000 new jobs created compared to the 24-month average of 24,000 jobs, according to Ann Arbor’s Altarum Institute.
Health care prices rose just 1.8 percent in February 2012, the lowest rate of inflation since April 1998. Price growth for nearly all health categories moderated, especially hospital care and physician services.
Something has put the brakes on the price of American health care. Analysis from the Center for Studying Health Spending at the Ann Arbor-based Altarum Institute indicates that health care prices in March were 1.9 percent higher than in March 2010 — the third consecutive month of less than 2 percent growth.