Medical Services Expenditures by Provider: Nursing Homes: Proprietary and Government Nursing Homes Price Index
PRGONUPIHCSA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
113.49
Year-over-Year Change
31.64%
Date Range
1/1/2000 - 1/1/2021
Summary
The Nursing Homes Price Index measures changes in the prices charged by proprietary and government nursing homes for medical services. This metric is important for tracking healthcare costs and assessing the affordability of long-term care options.
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 Nursing Homes Price Index tracks the prices paid for medical services provided by proprietary and government-operated nursing homes. This index is a key indicator of healthcare inflation and the cost pressures facing the long-term care industry.
Methodology
The data is collected through surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This index is closely monitored by policymakers and market analysts to understand trends in medical services expenditures and the affordability of nursing home care.
Key Facts
- The index is published monthly by the U.S. Bureau of Labor Statistics.
- Nursing home costs are a significant component of overall healthcare expenditures.
- Prices for nursing home services have risen faster than overall inflation in recent years.
FAQs
Q: What does this economic trend measure?
A: The Nursing Homes Price Index measures changes in the prices charged by proprietary and government-operated nursing homes for medical services provided to patients.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of healthcare cost inflation and the affordability of long-term care options, which is crucial information for policymakers, healthcare providers, and consumers.
Q: How is this data collected or calculated?
A: The data is collected through surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts closely monitor this index to understand trends in medical services expenditures and the cost pressures facing the long-term care industry, which informs policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The Nursing Homes Price Index is published monthly with no significant update delays, providing timely data on this important healthcare sector.
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Citation
U.S. Federal Reserve, Medical Services Expenditures by Provider: Nursing Homes: Proprietary and Government Nursing Homes Price Index (PRGONUPIHCSA), retrieved from FRED.