Health Services Expenditures Price Index, MEPS Account Basis
This dataset tracks health services expenditures price index, meps account basis over time.
Latest Value
133.05
Year-over-Year Change
64.69%
Date Range
1/1/2000 - 1/1/2021
Summary
The Health Services Expenditures Price Index, MEPS Account Basis tracks changes in the prices of health services from the Medical Expenditure Panel Survey (MEPS) accounts. This key economic indicator is used by policymakers and analysts to monitor inflation in the healthcare sector.
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
The Health Services Expenditures Price Index, MEPS Account Basis measures price changes for a broad range of medical services, from hospital care to prescription drugs. It is a valuable metric for assessing healthcare affordability and the overall cost burden on consumers and the economy.
Methodology
The index is calculated based on detailed expenditure data collected through the MEPS household and medical provider surveys.
Historical Context
Policymakers and market analysts closely monitor this index to understand cost trends and their potential impact on healthcare access and consumer spending.
Key Facts
- The index has a base year of 2001.
- Healthcare spending accounts for nearly 18% of U.S. GDP.
- The index reached a record high in 2022.
FAQs
Q: What does this economic trend measure?
A: The Health Services Expenditures Price Index, MEPS Account Basis tracks changes in the prices of a wide range of medical services and goods, including hospital care, physician services, prescription drugs, and more.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of healthcare cost inflation, which is crucial for policymakers, consumers, and businesses to monitor given the large and growing share of the economy devoted to healthcare spending.
Q: How is this data collected or calculated?
A: The index is calculated based on detailed expenditure data collected through the Medical Expenditure Panel Survey (MEPS) household and medical provider surveys.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts closely monitor this index to understand cost trends and their potential impact on healthcare affordability, access, and consumer spending.
Q: Are there update delays or limitations?
A: The index is updated quarterly, with a lag of several months due to the time required to collect and process the underlying survey data.
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Citation
U.S. Federal Reserve, Health Services Expenditures Price Index, MEPS Account Basis (HLTHSEPIMEPS), retrieved from FRED.