Medical Services Expenditures by Disease: Diseases of the Musculoskeletal System and Connective Tissue Price Index, MEPS Account Basis
This dataset tracks medical services expenditures by disease: diseases of the musculoskeletal system and connective tissue price index, meps account basis over time.
Latest Value
133.23
Year-over-Year Change
100.23%
Date Range
1/1/2000 - 1/1/2021
Summary
The Medical Services Expenditures by Disease: Diseases of the Musculoskeletal System and Connective Tissue Price Index tracks the changes in prices for medical services related to musculoskeletal and connective tissue diseases. This metric is important for economists and policymakers to understand healthcare cost trends.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This index measures the price changes for medical services and goods consumed in the treatment of diseases of the musculoskeletal system and connective tissue. It is a key indicator for analyzing healthcare expenditure patterns and the impact of policy changes on medical costs.
Methodology
The data is collected and calculated by the U.S. Agency for Healthcare Research and Quality as part of the Medical Expenditure Panel Survey.
Historical Context
This price index is used by government agencies, healthcare providers, and economic analysts to monitor inflation in the medical services sector.
Key Facts
- Covers over $200 billion in annual medical spending.
- Prices have risen 20% over the past decade.
- Conditions like arthritis and back pain drive a large share of costs.
FAQs
Q: What does this economic trend measure?
A: This index measures changes in the prices paid for medical services and goods related to the treatment of diseases affecting the musculoskeletal system and connective tissues, such as arthritis, back pain, and bone fractures.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding healthcare cost inflation and the burden of musculoskeletal conditions on the medical system. It informs policy decisions and market analysis around medical service pricing.
Q: How is this data collected or calculated?
A: The data is collected through the Medical Expenditure Panel Survey (MEPS) conducted by the U.S. Agency for Healthcare Research and Quality.
Q: How is this trend used in economic policy?
A: Government agencies, healthcare providers, and economic analysts use this price index to monitor inflation in the medical services sector and the impact of policy changes on the costs of treating musculoskeletal conditions.
Q: Are there update delays or limitations?
A: The index is updated annually, with a lag of approximately one year. It may not capture all medical service costs related to musculoskeletal conditions, as the survey data has some limitations in scope and coverage.
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Citation
U.S. Agency for Healthcare Research and Quality, Medical Services Expenditures by Disease: Diseases of the Musculoskeletal System and Connective Tissue Price Index (DIMSCTPIMEPS), retrieved from FRED.