Measuring the Prices of Medical Treatments
Jack E. Triplett
Brookings Institution Press, 1999 - Business & Economics - 276 pages
How serious is medical care inflation in the United States? For many years, price indexes for medical care have outstripped the overall rate of inflation. For example, between 1986 and 1996, the medical care component of the Consumer Price Index (CPI) rose 6.5 percent per year, roughly exceeding the annual increase in the overall CPI during this period by 75 percent. Many economists, however, believe that economic statistics on medical care do not accurately measure medical care price changes because it is especially difficult to construct accurate price indexes for medical markets. Some very recent research, reported in this volume, suggests that -- contrary to the usual presumption of runaway medical inflation -- prices for at least some medical care interventions are not rising rapidly and may even be falling. Understanding medical care inflation is important for policy issues such as medical care cost containment. Medical care price indexes also affect other economic statistics on medical care, including national accounts and the national health accounts. Understanding economic trends in the medical care sector is vitally dependent on accurate medical care price measures. This volume, the result of a conference cosponsored by the Brookings Institution and the American Enterprise Institute, brings together state-of-the-art methodological and empirical work on the measurement of medical outcomes and prices. It will be a useful tool for anyone concerned about medical inflation, medical outcomes, the quality of medical treatments, and public policy toward medical cost containment.
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Introduction New Developments in Measuring Medical Care
The Costs and Benefits of Intensive Treatment for Cardiovascular Disease
Price Indexes for the Treatment of Depression
The Economics of Antibiotics An Exploratory Study
Drug Patents and Prices Can We Achieve Better Outcomes?
Medical Care Costs Benefits and Effects Conceptual Issues for Measuring Price Changes
Accounting for Health Care Integrating Price Index and CostEffectiveness Research
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ACE inhibitors acute analysis angioplasty antibiotics average beneﬁts Berndt beta blockers calculations cardiac cardiovascular disease cephalosporins chapter clinical trials consumers Coronary cost cost-effectiveness analysis cost-effectiveness studies cost-of-living index Cutler deﬁned deﬂator Diabetes difﬁcult drug Economic effects efﬁcacy episodes estimate example expenditures ﬁgure ﬁnd ﬁnding ﬁrms ﬁrst ﬁve ﬁxed Griliches heart attack heart attack patients heart attack treatments heart disease hospital improvement incentives increase inﬂation innovation Journal Laspeyres life-years major depression managed Mark McClellan McClellan medical care price medical outcome Medicare ment mortality myocardial infarction national accounts Newhouse Ofﬁce outcome measures output percent period pharmaceutical physicians prescription price change price index problem procedures producer price index proﬁts psychotherapy QALY quality adjustment quality change quality-adjusted quantity reduce reﬂect risk signiﬁcant speciﬁc SSRI Statistics TCAs therapy tion treat treatment bundles Triplett valuation willingness to pay
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