HOW DO DIAGNOSTIC FEES RESPOND TO INFLATION IN INDIA
Keywords:Diagnostic tests, Radiology, Pathology, Regression analysis
Diagnostic tests are fundamental for healthcare management and account for a considerable expenditure on healthcare. Therefore, an insight into the trends of diagnostic test fees and the influence of the inflation on this would be relevant from the economic perspective of healthcare. Diagnostic fees for selected radiology and pathology tests from different commercial diagnostic centres for a period of 5 years (2016-2020) have been collected from internet sources and correlated with the inflation rate during the corresponding years. Regression analysis of the average fees for individual test with inflation rate is carried out. The fees for the selected diagnostic tests showed an average 22.28% reduction during the period of 2016-2020. Regression analysis of the fees of individual tests with inflation rates of the corresponding years has recorded a mixed outcome with 4 tests showing positive relation and another 4 tests showing negative relation with inflation rate. The prices have recorded an average reduction of 22.28% during the five years. Further, it can be concluded that the diagnostic tests turn cheaper over the years and the cost of the tests are not much influenced by the inflation rate. The developments in the technologies for the mass may be a factor that leads to the price decline and this is a welcome note from the societal point of view.
Keywords: Diagnostic tests, Radiology, Pathology, Regression analysis.
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