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This year has been marked by record levels of inflation in many sectors of the economy, but not in health care – yet.

“Health care prices tend to rise faster when the economy is in a downturn or recessionary period,” says Corey Rhyan, senior analyst of health economics and policy for Altarum. “Prices jumped early in the pandemic, primarily due to an increase in public prices, with Medicare and Medicaid temporarily bumping up reimbursement for particular services in particular settings to help compensate for the pandemic. As the initial COVID-19 recession period waned, we saw those public prices come back down and private prices come up a little bit.

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