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Are Medical Prices Declining? / David M. Cutler, Mark McClellan, Joseph P. Newhouse, Dahlia Remler.
- Format:
- Book
- Author/Creator:
- Cutler, David M.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w5750.
- NBER working paper series no. w5750
- Language:
- English
- Subjects (All):
- Medical economics--United States.
- Medical economics.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1996.
- Cambridge, Mass : National Bureau of Economic Research, 1996.
- Summary:
- We address long-standing problems in measuring health care prices by estimating two medical care price indices. The first, a Service Price Index, prices specific medical services, as does the current CPI. The second, a Cost of Living Index, measures the net valuation of treating a health problem. We apply these indices to heart attack treatment between 1983 and 1994. Because of technological change and increasing price discounts, the current CPI overstates a chain-weighted price index by three percentage points annually. For plausible values of an additional life-year, the real Cost of Living Index fell about 1 percent annually.
- Notes:
- Print version record
- September 1996.
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