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2001•Unpublished venueOpen access

Health Care Output and Prices in the Producer Price Index

Dennis Fixler, Mitchell Ginsburg

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Abstract

Within the context of the Producer Price Index (PPI), the health care sector is viewed as containing the following service and manufacturing industries: hospital and related services, physicians, medical laboratories, nursing homes, drugs, and home health care. The industrial classification of the relevant industries will change shortly with the implementation of the North American Industrial Classification System (NAICS) agreed to in 1996. This system will allow the U.S. product codes to be mapped into a system that is similar to the ones used in other countries. To economize on the explanation of index number construction and the associated problems, this chapter focuses on the PPI indexes for hospitals, physicians, and drugs. It also briefly describes the price indexes for medical labs, nursing homes, and home health care.

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What this paper is about

Within the context of the Producer Price Index (PPI), the health care sector is viewed as containing the following service and manufacturing industries: hospital and related services, physicians, medical laboratories, nursing homes, drugs, and home health care. The industrial classification of the relevant industries will change shortly with the implementation of the North American Industrial Classification System (NAICS) agreed to in 1996. This system will allow the U.S. product codes to be mapped into a system that is similar to the ones used in other countries. To economize on the explanation of index number construction and the associated problems, this chapter focuses on the PPI indexes for hospitals, physicians, and drugs. It also briefly describes the price indexes for medical labs, nursing homes, and home health care.

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Available abstract

Within the context of the Producer Price Index (PPI), the health care sector is viewed as containing the following service and manufacturing industries: hospital and related services, physicians, medical laboratories, nursing homes, drugs, and home health care. The industrial classification of the relevant industries will change shortly with the implementation of the North American Industrial Classification System (NAICS) agreed to in 1996. This system will allow the U.S. product codes to be mapped into a system that is similar to the ones used in other countries. To economize on the explanation of index number construction and the associated problems, this chapter focuses on the PPI indexes for hospitals, physicians, and drugs. It also briefly describes the price indexes for medical labs, nursing homes, and home health care.

Key concepts: Index (typography), Price index, Context (archaeology), Health care, Product (mathematics), Business, Service (business), Marketing

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