The National Council on Compensation Insurance (NCCI) published Medical Inflation Insights – October 2024, offering a quarterly analysis of price changes affecting workers’ comp.

NCCI developed the Workers’ Compensation Weighted Medical Price Index (WCWMI) by reweighting components from the Producer and Consumer Price Indexes using Medical Data Call information.

After starting the year with 3.5% growth, the WCWMI moderated to around 2.5% in Q3, consistent with trends from 2022-2023.

Price growth slowed for durable medical equipment, drugs, and long-term care, while physician care inflation remained steady at 1.6% since March. Hospital outpatient care drove the slowdown in overall inflation, ranging from 3% to 3.8%, while inpatient care remained elevated at around 5%.