Full Citation

Title: Trends in Physician Office Multifactor Productivity

Citation Type: Conference Paper

Publication Year: 2006

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Abstract: A productivity adjustment, using published Bureau of Labor Statistics (BLS) non-farm business multifactor productivity (MFP), is one important component of the Medicare Economic Index (MEI). The MEI is a major factor used to update Medicare payments for price inflation per procedure for physicians. The Office of the Actuary in the Center for Medicare and Medicaid Services (CMS) and the Assistant Secretary for Planning and Evaluation, Department of Health and Human Services (DHHS) wanted to know if, using the best data available specific to the physicians industry, historical MFP for the physician's industry approximated the rate of increase for BLS non-farm business MFP. This study develops historical time series using the best available, though fragmented, data sources for physician office spending and quantities of outputs and inputs to estimate actual MFP for the physician industry. A best estimate is compared and contrasted with the BLS non-farm MFP.

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Authors: Fisher, Charles

Conference Name: Presentation sponsored by the Center for Medicaid and Medicare Services and the Department of Health and Human Services

Publisher Location: Washington, D.C.

Data Collections: IPUMS CPS

Topics: Other

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