Non-insured surgery prices vs CPI

This graph shows the difference between rising Consumer Price Indices and non-insured medical procedures.

Since 1998, non-insured procedures have either decreased in cost, or increased in cost at a much slower rate compared to the CPI of medical and hospital services.

One possible explanation is that when consumers know what they’re getting and purchase goods in a market with functioning price signals, there is an incentive for providers to lower the cost, as opposed to a more insured healthcare market.

See original source: https://fee.org/articles/what-a-funny-taylor-swift-video-can-teach-us-about-health-care/?fbclid=IwAR1__4NQ96yraWdaWOMQaOaU0sC7OyIFpGI1x_PZzccZajMFYigccHI0iSM