Report: Chicago healthcare prices vary compared to other markets
While healthcare prices have increased nationwide over the last decade, prices for services in the Chicago market have been a mixed bag compared to other markets, according to an analysis by the Kaiser Family Foundation.
The report compared prices for common health services in 24 markets in 2016. Since 2007, healthcare prices have grown 21.6 percent while prices in the general economy have grown 17.3 percent, but there’s been considerable variation in prices paid for the same procedure across markets.
For example, the average price of a full knee replacement in the Chicago-Naperville-Arlington Heights market was $30,147, below the national average of $34,063. Next, the average price of an outpatient office visit was the same as the national average of $101. And the average price of a lower back MRI was $1,123, higher than the national average of $894.
To get these numbers, the foundation analyzed a sample of claims from 2003 to 2016 from a database of large employers.
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