Medical costs are projected to rise at a higher rate in 2018
Medical cost trend – Behind the numbers 2018
PwC projects 2018 medical costs will grow at a slightly faster rate than 2017. Future reductions in cost trend will require more focus on price.
PwC’s Health Research Institute (HRI) annually projects the growth of medical costs in the employer insurance market for the coming year and identifies the leading factors expected to impact the trend.
Heading into 2018, the healthcare industry appears to be settling into a “new normal” marked by more moderate fluctuations in a single-digit medical cost trend.
- HRI projects 2018’s medical cost trend to be 6.5%—the first uptick in growth in three years.
- Price continues to be a major driver of healthcare costs.
- Businesses will have to tackle the price of services as well as the rate of utilization to reduce medical cost trend in the future.
Originally posted by pwc.com