business
Physician services slightly outpace inflation during summer
NEWS IN BRIEF — Posted Sept. 24, 2012
The annual increase in the money paid for physician services by insurers and consumers was greater than inflation in the economy as a whole for the third month in a row, according to a report published Sept. 14 by the U.S. Bureau of Labor Statistics.
The overall annual inflation rate was 1.7% in August, 1.4% in July and 1.7% in June. With regard to prices paid for physician services, the annual inflation rate was 2.5% in August and 2.4% in July. The 2.2% annual inflation rate for physician services recorded in June ended a 14-month run where overall inflation was higher than the growth in the cost of care from a physician.
The BLS also reported a one-month general inflation rate for August of 0.6%. This was higher than the increase in physician services of 0.3%. Government analysts say the one-month general inflation number was high because of a significant jump in gas prices.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2012/09/24/bibf0924.htm.
