DYK: 2018 Medical Cost Trends Offer No Big Surprises
Medical cost trends anticipated in 2018 are not all that surprising. According to PwC’s Health Research Institute, expectations for the upcoming year include:
- Costs in 2018 will grow at a slightly faster rate than in 2017.
- While medical costs hover between 6-7%, they still continue to outpace the economy.
- Future reductions in costs will require more focus on price. Employers are likely to consider narrower provider networks and value-based purchasing that might bring pricing down.*
In the medical device industry, opportunities exist in finding new ways to help manufacturers reduce inventory and pass the savings onto their customers.
*Medical Cost Trend: Behind the Numbers 2018. www.pwc.com. PriceWaterhouseCoopers. Web. October 12, 2017.