Are health care prices falling?

It seems like everything just gets more and more expensive.  But are prices for medical care declining?  Cutler et al. (1998) found in seminal paper “Are medical prices declining? Evidence for heart attack treatments” that while unadjusted prices of medical care were in fact rising, quality-adjusted health care costs actually were falling.  In my own research, Lakdawalla et al. (2015), I found that while the prices paid for cancer treatments were rising, the quality-adjusted cost of care was flat or even declining.  An analogy these quality-adjusted prices would be saying that while the prices for mobile phones have risen

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