How Rising Prices Could Soon Impact Your Medical Bill
Inflationary effects on healthcare costs
With the Federal Reserve coming to terms with inflation, and the reality of rising prices, regulators are finally emerging from denial. For months now, we were told inflation was transitory. By a standard definition, transitory means; not permanent. According to Bloomberg.com, when it comes to ‘fed speak’ however, transitory in the context of inflation actually means; “price increases aren’t permanent, but they may not be short-lived either.”
Regardless of how we define it, for the average American, inflation is everywhere. Drivers can attest to higher fuel prices, we’re all paying more for groceries, and the cost of housing — whether purchasing or renting — has risen. Almost anywhere you look, prices are higher today than they were the same time last year. According to the Bureau of Labor Statistics; “The all time index rose 6.8 percent for the 12 months ending November, the largest 12-month increase since the period ending June 1982.”
When it comes to price increases generally, historically, one sector of the economy tends to outpace inflation. In America, healthcare, which continues falling short when it comes to price transparency, is more expensive than anywhere else in the world. In all likelihood, inflation may have a greater…
