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Bureau of Labor Statistics > Geographic Information > Southwest > Notice

Vital Signs: BLS Data and the Healthcare Industry — April 29th, 2024

The Bureau of Labor Statistics (BLS) is proud to present a labor market conference on:

Vital Signs: BLS Data and the Healthcare Industry

Inflation, wages, job openings, labor turnover, and employment projections are vital to understand in today’s economy. Please join BLS economists to learn how BLS data affect lives, help people make smarter decisions, and impact your company's bottom line. Don't miss this unique opportunity to go behind the scenes and behind the latest healthcare industry statistics to leverage BLS data for your organization's benefit.

Event Information

  • When: Monday, April 29th, 2024
  • Where: Virtual via Microsoft Teams Webinar
  • Time: 10:00am–12:00pm Central Time
  • Cost: FREE
  • Registration website address:  Click here to register  

About BLS

The U.S. Bureau of Labor Statistics is the principal Federal agency responsible for measuring labor market activity, working conditions, and prices changes in the economy. Its mission is to collect, analyze, and disseminate economic information to support public and private decision-making.

Economic indicators published by BLS provide a major source of data used by the Centers for Medicare and Medicaid Services (CMS). Since the mid-1980s, BLS’ Employment Cost Index (ECI) has been used by CMS to determine the annual adjustment to Medicare reimbursements for health care service providers. The ECI measures the change in labor costs which CMS uses to determine annual adjustments to Medicare reimbursements made to health care providers in nine payment categories, resulting in an over $10 billion reimbursement increase for 2021.

The CMS uses additional BLS data to update reimbursement rates. Combined with the ECI indicator, the Producer Price Index (PPI) and Consumer Price Index (CPI) BLS indicators comprise 99 percent of the “hospital market basket” that is used to adjust Medicare reimbursements to medical care providers every year. These modifications move approximately $300 billion in payments annually.

Agenda

  • 10:00 am - 10:05 am: Welcome and Introductions
  • 10:05 am - 10:30 am: Economic Overview of Labor market conditions and Prices in Healthcare
  • 10:30 am - 11:00 am: Industry and Occupational Employment Projections
  • 11:00 am - 11:30 am: Healthcare Compensation and Employment
  • 11:30 am - 11:55 am: Safety in the Healthcare Industry
  • 11:55 am - 12:00 pm: Closing Remarks

Contact Information

For questions, contact the BLS Southwest Information Office at (972) 850-4800 or contact the Southwest Information Office.

Register today to join us Monday, April 29th, 2024. We look forward to having you attend the event!

Feel free to forward this invitation to staff or colleagues who may be interested.