Friday, May 13, 2011
The annual Milliman Medical Index is available, here, and as usual contains some useful (and scary) statistics. The cost of healthcare jumped another 7.3% over the last year, with costs doubling in just nine years. Even though the rate of increase is flattening it still exceeds other sectors of the economy. The two largest drivers of cost increase this year? Outpatient facility costs (up 10%) and hospital inpatient care (up 8.6%). The 2011 report also stirs healthcare reform into the mix noting that it is a minor player in the current trends (no surprise) and may not lead to significant changes in the underlying cost of medicine as measured by the index (somewhat surprising?). The full report is available here (PDF).