Medical Inflation Largely Tracks National Averages Despite Steep Rise in Hospital Costs

By Stuart Colburn, Correspondent PHOENIX — Workers’ compensation medical inflation has largely been driven by increases in reimbursements for hospitals and ambulatory surgical centers, according to economist Olesya Fomenko, who spoke about inflation trends during the Workers Compensation Research Institute 39th annual Issues & Research Conference Tuesday. Since the beginning of COVID-19, general inflation has surged with significant increases in the costs of energy, food and housing. The 6.4% average annual growth from 2020-2022 far outpaces the 1.6% average annual growth...