NEW YORK, March 15, 2012 /PRNewswire/ -- The S&P
Healthcare Economic Composite Index indicates that the average per
capita cost of healthcare services covered by commercial insurance
and Medicare programs increased by 5.21% over the 12-months ending
January 2012. This was a decline from
the +5.30% annual growth rate posted for December 2011.
As measured by the S&P Healthcare Economic Commercial Index,
healthcare costs covered by commercial insurance plans increased by
7.05% over the year ending January
2012, down from the +7.11% reported for December 2011. Growth rates in Medicare claim
costs rose by 2.40%, as measured by the S&P Healthcare Economic
Medicare Index, down from the +2.52% reported for December. The
Professional Services Index's annual growth rate also decelerated
from its +5.37% December 2011 rate,
increasing by 5.13% in January. The broad Hospital Index's annual
growth rate increased slightly to 5.03% in January from its +4.99%
December pace.
Looking at the narrower sub-indices, the Professional Services
Medicare Index hit a two-year low of +3.32% in January 2012, down from +3.73% in December 2011. The Hospital Medicare annual
growth rate increased in January at +1.56%, it was up from its
+1.48% December level. The Professional Services Commercial Index
decelerated to +6.02% in January from +6.15% in December; and the
Hospital Commercial Index marginally decreased to +7.84% in January
from +7.85% in the previous month.
"Healthcare costs' annual growth rates decelerated modestly in
January," says David M. Blitzer,
Chairman of the Index Committee at S&P Indices. "The fall and
early winter of 2011 was highlighted by a general upward trend in
healthcare costs, as measured by annual rates of change. This
month's data, which was through January
2012, showed a modest deceleration in most types of
healthcare costs, but not by enough to show any reversal of this
trend. Over the past six months or so, annual rates of change in
per capita healthcare costs were generally rising.
"In January, the Composite Index posted an annual rate of
+5.21%, the Commercial Index +7.05% and the Medicare Index +2.40%.
All three were down from their respective December 2011 annual growth rates, but are still
above rates they posted in the summer and autumn months. A January
deceleration was also seen in our Professional Services index; its
annual rate of change moved down to +5.13% from +5.37% in December.
The Hospital Index, on the other hand, moved up marginally to
+5.03% from December's +4.99%.
"The Professional Services Medicare Index was the only one to
hit a two-year low, with +3.32%. It also showed the steepest
deceleration, 0.41 percentage points, compared to December rates.
The Hospital Medicare Index showed an increase in its growth rate
in January, at +1.56%, up 0.08 percentage points from the last
month. It should be noted that this rate is still far and
away the lowest among the nine indices we publish."
The S&P Healthcare Economic Indices estimate the per capita
change in revenues accrued each month by hospital and professional
services facilities for services provided to patients covered under
traditional Medicare and commercial health insurance programs in
the U.S. The annual growth rates are determined by calculating a
percent change of the 12-month moving averages of the monthly index
levels versus the same month of the prior year.
The S&P Healthcare Economic Composite Index is a weighted
average of the S&P Healthcare Economic Commercial Index and the
S&P Healthcare Economic Medicare Index. Alternatively, it
is a weighted average of the S&P Healthcare Economic Hospital
Index and the S&P Healthcare Economic Professional Services
Index, as each of these indices has the analogous Commercial and
Medicare component.
The table below summarizes the year-over-year change in the
S&P Healthcare Economic Indices for the 12-month period ending
January 2012. With each monthly
release, the index levels, including the 12-month moving averages,
are recalculated for the full history of the indices, whenever
there are revisions to underlying data used in the models. The
entire revised history, as well as full results for the underlying
S&P Healthcare Economic Indices, is available from S&P
Indices as a subscription service.
|
|
|
|
|
|
S&P
Healthcare Economic Indices
|
(12-Month Moving Average)
|
Index
|
1-Year
Change (%)
|
S&P
Healthcare Economic Composite Index
|
5.21%
|
S&P
Healthcare Economic Medicare Index
|
2.40%
|
S&P
Healthcare Economic Commercial Index
|
7.05%
|
S&P
Healthcare Economic Hospital Index
|
5.03%
|
S&P
Healthcare Economic Hospital Medicare Index
|
1.56%
|
S&P
Healthcare Economic Hospital Commercial Index
|
7.84%
|
S&P
Healthcare Economic Professional Services Index
|
5.13%
|
S&P
Healthcare Economic Professional Services Medicare Index
|
3.32%
|
S&P
Healthcare Economic Professional Services Commercial
Index
|
6.02%
|
Source:
S&P Indices
|
|
Data
through January 2012
|
|
The S&P Healthcare Economic Indices were developed in
consultation with Health Index Advisors, a joint venture between
Aon Hewitt and Milliman, Inc., and
were derived from the former Milliman, Inc. Health Cost Index™
which was first published in 1987. The complete methodology, fact
sheet and supporting research for the S&P Healthcare Economic
Indices are available at
www.healthcareindices.standardandpoors.com. A whitepaper
introducing the S&P Healthcare Economic Indices has been
published by S&P Indices and can be accessed at
http://bit.ly/hhTvLb.
About S&P Indices
S&P Indices, a leading brand of the McGraw-Hill
Companies (NYSE: MHP), maintains a wide variety of investable and
benchmark indices to meet an array of investor needs. Over
$1.45 trillion is directly indexed to
our indices, which includes the S&P 500, the world's most
followed stock market index, the S&P/Case-Shiller Home Price
Indices, the leading measure of U.S. home prices, the S&P
Global BMI, an index with approximately 11,000 constituents, the
S&P GSCI, the industry's most closely watched commodities
index, and the S&P National AMT-Free Municipal Bond Index, the
premier investable index for U.S. municipal bonds. For more
information, please visit: www.standardandpoors.com/indices.
It is not possible to invest directly in an index. S&P
Indices does not sponsor, endorse, sell, or promote any S&P
index-based investment product. This document does not constitute
an offer of services in jurisdictions where S&P Indices or its
affiliates do not have the necessary licenses. S&P Indices
receives compensation in connection with licensing its indices to
third parties.
For more information:
Dave Guarino
Communications
S&P Indices
dave_guarino@standardandpoors.com
212-438-1471
David Blitzer
Managing Director and Chairman of the Index Committee
S&P Indices
david_blitzer@standardandpoors.com
212-438-3907
SOURCE S&P Indices