Signs are emerging that medical inflation is back as demand for non-COVID-19-related health services recovers and health care providers seek to make up for soaring labor costs and losses during the pandemic.
Emergency medical workers transport patients into MLK Community Hospital on Friday, Dec. 16, 2022, in Los Angeles, California.
Hospitals are pressing for higher payments as their long-term contracts with medical insurers come up for renewal. But even as inflation on many things has been declining, he’s noticed his health bills moving in the opposite direction. But at the same time, Melnick said, employers are likely to adjust other parts of employee compensation, offsetting higher health care costs by giving smaller wage increases.American households already are straining from loss of purchasing power because wage gains haven’t kept up with inflation. And many consumers are struggling with medical bills, which are the single biggest debt-collection item and factor in personal bankruptcies.
Health care spending accounts for almost one-fifth of the nation’s economy, and the medical services component has a similarly disproportionate impact on inflation, based on personal consumption expenditures data.Advertisement Health care insurers typically sign one- to three-year-long contracts with medical providers. The contracts are meant to assure lower prices for patients and predictable income for providers.
“Demand for health care workers is still running very strong,” said Matthew Notowidigdo, a labor and health economist at the University of Chicago Booth School of Business. “That’s why I’m expecting to see price increases — in order to hire these workers, you’re having to offer more.”
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Lucid to cut 1,300 workers amid signs of flagging demand for its EVsLucid CEO Peter Rawlinson said the job cuts will hit 'nearly every organization and level, including executives.'
Les mer »
Walgreens revenue rises despite sharp decline in demand for Covid tests, vaccinesWalgreens' quarterly results topped Wall Street's expectations, even as profit declined from a year earlier.
Les mer »
Health premiums and consumers' medical costs may be about to soar, even as inflation fallsMedical inflation is accelerating as demand for non-COVID-19-related health services recovers and providers seek to make up for soaring labor costs.
Les mer »
UK grocery inflation hits new high of 17.5% -KantarBritish grocery inflation rose again in March to a record 17.5%, inflicting yet more pain on consumers battling a cost-of-living crisis, industry data showed on Tuesday.
Les mer »
People Are Accusing Kim Of Staging Her Latest Paparazzi Pictures After Spotting Apparent Signs Of Editing“They’re 100% intentionally made to look accidental- that’s not what her stomach looks like or her ass let’s be real.”
Les mer »
Push in states for $20 minimum wage as inflation persistsJust years after labor activists persuaded a handful of states to raise their minimum wage to $15 per hour, workers initially thrilled with the pay bump are finding their hard-won gains erased by inflation
Les mer »