New data coming in from the federal government from last year suggests that the recession has had some impact on hospital and physician charges, as implicated by their revenues. (No word yet as to whether lower charge growth has been influenced by state efforts capping prices and charges, but I'm betting it will be a factor this year.)
According to data from the U.S. Bureau of Labor Statistics, retail prices charged by doctors rose 2.9 percent in 2008, compared with 4.1 percent the year before. Wholesale prices for physicians were up 1.2 percent last year, compared with 4 percent in 2007.
Hospitals, meanwhile, were up 5.9 percent in 2008, compared with 8.3 percent the year before. Wholesale prices for hospital services, for their part, were up 1.5 percent last year, falling from a 3.8 percent increase in 2007.
To learn more about the survey:
- read this Modern Physician piece
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