The cost of medical care services — not supply costs — is responsible for the rise in the medical care index, according to an analysis released Dec. 13 by the Keckley Report.
Here are four things to know from the report, which is based on recent U.S. Labor Department statistics:
1. The cost of medical care services increased by 2.1 percent in the 12 months ending November. This is down from a 3.2 percent increase in 2020 and a 5.1 percent increase in 2019.
2. Medical care commodities — such as drugs, disposables and supplies — increased by 0.2 percent in the same period.
3. Many economists and policymakers predict prices in all sectors, including healthcare, to increase at a fast pace.
4. The report predicts that healthcare prices will matter more to consumers, as 37 percent of those who have an annual salary of less than $50,000 struggle with medical debt. This compares to 26 percent of those who make $50,000 to $99,000 and 14 percent of those who make $100,000 or more.
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