S&P: Costs for covered health services rise 6.29%
Data released by Standard & Poor's for the S&P Healthcare Economic Composite Index indicated that the average per capita cost of healthcare services covered by commercial insurance and Medicare programs increased by 6.29 percent over the 12 months ending in January.
This is an increase over the 6.05 percent annual growth rate in the December 2010 reading for this index, and the first time this rate has accelerated since May 2010.
Over the year ending in January, healthcare costs covered by commercial insurance rose by 8.03 percent, as measured by the S&P Healthcare Economic Commercial Index, the New York City-based S&P stated. Medicare claim costs for hospital and professional services rose at a slower rate--3.4 percent--as measured by the S&P Healthcare Economic Medicare Index.
The S&P Healthcare Economic Indices estimate the per capita change in revenues accrued each month by hospital and professional services facilities for services provided to patients covered under traditional Medicare and commercial health insurance programs in the U.S.
The annual growth rates are determined by calculating the percent change of the 12-month moving averages of the monthly index levels versus the same month of the prior year, S&P added.
This is an increase over the 6.05 percent annual growth rate in the December 2010 reading for this index, and the first time this rate has accelerated since May 2010.
Over the year ending in January, healthcare costs covered by commercial insurance rose by 8.03 percent, as measured by the S&P Healthcare Economic Commercial Index, the New York City-based S&P stated. Medicare claim costs for hospital and professional services rose at a slower rate--3.4 percent--as measured by the S&P Healthcare Economic Medicare Index.
The S&P Healthcare Economic Indices estimate the per capita change in revenues accrued each month by hospital and professional services facilities for services provided to patients covered under traditional Medicare and commercial health insurance programs in the U.S.
The annual growth rates are determined by calculating the percent change of the 12-month moving averages of the monthly index levels versus the same month of the prior year, S&P added.