In the past two decades, U.S. medical device and diagnostic equipment prices have risen at less than half the rate of overall prices and less than one quarter the rate of prices for medical goods and services, according to a release by AdvaMed.
An independent study conducted for AdvaMed found that prices of device and diagnostic equipment increased at an average annual rate of 1.0 percent, compared with the U.S. Consumer Price Index rate of 2.8 percent, the Medical Care CPI rate of 4.7 percent and the Medical Care Services CPI rate of 5.0 percent.
Medical device spending has grown from 5.3 percent of national health expenditures in 1989 to 5.9 percent in 2009, but since 1992 device spending has remained virtually constant at about 6 percent.
Read the AdvaMed release on medical technology spending.
Read a copy of the study (pdf).
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