U.S. healthcare prices dropped marginally in March 2013, falling 0.1 percent from February 2013 prices, according to the federal Bureau of Labor Statistics.
The BLS' Producer Price Indices measure average changes in selling prices received by domestic producers for their output. The March PPI report indicated that prices across the range of healthcare industries were 1.7 percent higher than a year ago.
[See also: U.S. healthcare prices continued climb in February.]
The PPI translates into actual or expected reimbursement for a sample of treatments or services.
In the February through March period, prices received by hospitals, home healthcare services and medical and diagnostic laboratories all increased 0.2 percent. The PPI for residential mental retardation facilities led all healthcare sectors, rising a modest 1.0 percent across the month.
The PPI for dentist offices as well as the PPI for blood and organ banks were level from February to March.
The PPIs for physician practices and nursing care facilities were down last month. Prices received by the physician practice sector fell 0.7 percent from February through March, dragging down the overall healthcare industry PPI average, while the PPI for nursing care facilities dropped only 0.1 percent.
[See also: Drug costs to rise up to 4 percent in 2013.]
Comparing March 2013 to March 2012, overall healthcare PPIs rose 1.7 percent.
For instance, overall hospital prices were 2.7 percent higher in March than a year ago, while physician office prices were 0.2 percent higher. Nursing care facility prices increased 0.7 percent from March 2012 to March 2013 and prices for home healthcare services rose 0.6 percent across the 12-month period.
The PPI for medical and diagnostic laboratories dropped 1.0 percent from March 2012 to March 2013, but residential mental retardation facilities saw prices rise a significant 4.3 percent through the year. Blood and organ banks experienced a PPI increase of 0.5 percent in the same period.
The PPIs for healthcare industry segments measure changes in actual or expected reimbursement received for services across the full range of payer types. This includes the negotiated contract rate from the payer plus any portion expected to be paid by the patient.