Introducing NCCI’s
Medical Inflation Insights report and Workers Compensation Weighted Medical Price Index (WCWMI).
The
Medical Inflation Insights report provides a quarterly overview of the latest insights and analysis into what is driving changes in prices and how these changes may or may not impact workers compensation.
The WCWMI is a composition of medical cost components from the Producer Price Index and the Consumer Price Index, reweighted using our Medical Call data to better match the mix of spend in workers compensation.
The new index was created by NCCI’s Economics Team and provides the same comprehensive view of medical care as the Personal Health Care (PHC) index but has two advantages:
- It is produced timelier (monthly)
- It is more reflective of workers compensation medical costs
Watching the WCWMI monthly provides us with insights into how the big picture in medical prices for workers compensation are trending as well as raise flags for when to dive into the details and see what is happening in each of the subcategories.
Click the images to access the Medical Inflation Insights report, and click here for a history of the data available in this report.
Connect with our
Economics Team if you have questions or want to gain additional insights.
This article is provided solely as a reference tool to be used for informational purposes only. The information in this article shall not be construed or interpreted as providing legal or any other advice. Use of this article for any purpose other than as set forth herein is strictly prohibited.
