Prices for the 10 most sought-after medical devices slid nearly 5% in August, compared with the same month last year, according to the Modern Healthcare / ECRI Institute technology price index.
The index tracks the total monthly spend on 10 "physician preference items" by hospitals and other provider organizations.
Prices for the top 9 items, ranging from pacemakers to cochlear implants, all dropped over the 12-month span, according to the index. Only 2 items showed average price increases during the year: Spinal cord stimulators for treating chronic pain rose 10.5% to an average cost of $16,833, according to the index, and intervertebral disc end plates picked up1.2% to $5,029.
The average price for acetabular shell hip implants fell the most, sliding 16.1% to $1,220.
The price erosion was less severe on a sequential-month basis at 0.3%. Femoral knee implant prices dropped the most from July to August, falling 1.9% to an average of $2,175. CRT-P device prices gained the most, rising 1.1% to $6,846, according to the index.
Here’s a look at how the numbers broke down:
Device | Price (avg.) | 1-month Δ | 12-month Δ |
Implantable pacemaker | $4,045 | 0.4% | -3.2% |
CRT-pacemaker | $6,846 | 1.1% | -4.2% |
Biological heart valve | $5,203 | 1.0% | -7.9% |
Intervertebral disc end plate | $5,029 | -0.2% | 1.2% |
Acetabular shell hip implant | $1,220 | -0.4% | -16.1% |
Femoral knee implant | $2,175 | -1.9% | -9.8% |
Humeral shoulder implant | $2,452 | -1.6% | -5.6% |
Drug-eluting stent | $1,353 | -0.5% | -7.1% |
Cochlear implant | $17,669 | -0.6% | -7.3% |
Spinal cord stimulator | $16,833 | -0.2% | 10.5% |