Auto Casualty Medical Price Index: Q1 2018

The National Consumer Price Index, or CPI, for All Services, as reported by the Bureau of Labor Statistics in May 2018, was 124.14, which reflects a 0.6 percent increase since Q3 2017 and further eliminates the decrease experience seen in Q1 2017. For the same period of time, Q3 2017 to Q4 2017, the National Auto Casualty Medical Price Index, or MPI, decreased 0.2 percent and presently sits at 117.97. Since Q1 2006, the MPI has increased 17.97 percent while the National CPI for All Services increased 24.1 percent.

The National Auto Casualty MPI decreased 1.37 percent and as of February 2018, sits at 118.2.

• Charges associated with physical medicine services remained virtually unchanged having experienced increased 0.28 percent from Q3 2017 to Q4 2017. Physical medicine has seen unit charge increase 4.5 percent since Q1 2006. Recall that the physical medicine MPI is looking strictly at unit charge while holding utilization constant.
• The unit cost for major radiology services increased 0.58 percent in Q4 2017 from Q3 2017, and as of May 2018 sits at 121.21. MPI remains 21.2 percent higher than its Q1 2006 benchmark unit charge.
• The unit cost for evaluation and management services experienced a 5.14 percent decrease in Q4 2017 when compared to its Q3 2017 result. The 5.14 percent decrease experienced in Q4 2017 represents the single largest decline in the medical price index for this category since Q1 2006. Since Q1 2006, evaluation and management services have seen unit charge increase 173.59 percent as reflected by the index value 173.59.
• In Q4 2017, professional services in the emergency room experienced a 4.1 percent increase since Q3 2017. This result combined with the preceding three quarters has caused a net gain of 9.37 percent in the emergency room medical price index.

(Source: U.S. Bureau of Labor Statistics, adjusted. Consumer Price Index- All Services- All Urban Consumers, Series CUUR0000SA0. Available at http://data.bls.gov/cgi-bin/surveymost?cu)