Altarum: Hospital prices remain low; health care utilization rising

Hospital prices in February were just 0.4% higher than in February 2014, according to the latest Economic Indicators from Altarum Institute's Center for Sustainable Health Spending. “We expect growth for hospital prices to remain low in the near term, which translates to continued moderate growth for the [Health Care Price Index],” the center said. National health spending in February was 6.6% higher than in February 2014. According to the center, “The downward trend in health spending growth that began in 2002 was mainly due to declining utilization growth, followed by very low price growth and now a resurgence of utilization…We will be closely monitoring developing trends in the resurgence of utilization driven by expanded coverage and a strengthening economy.” Hospitals gained 7,900 jobs in March, higher than the 24-month average gain of 2,200 and the 12-month average of 6,400, the center said.