EXHIBIT 2.

Trends in commercial-to-Medicare hospital price ratios among 19 hospital referral regions (HRRs) with high ratios in 2012 and large ratio increases in 2012–19

HRR name	2012	2019	Changea
Tacoma, WA	222%	337%	115
Chico, CA	237	338	101
San Mateo County, CA	246	329	83
Santa Barbara, CA	282	362	80
Salinas, CA	221	290	69
Bend, OR	222	288	66
Napa, CA	222	276	54
Alameda County, CA	251	294	43
Sacramento, CA	215	257	42
San Francisco, CA	209	248	39
San Jose, CA	227	264	38
Green Bay, WI	239	277	37
Santa Rosa, CA	224	260	36
San Luis Obispo, CA	200	234	34
Greeley, CO	266	294	28
Billings, MT	203	224	21
Marshfield, WI	215	236	21
Roanoke, VA	210	230	20
Madison, WI	211	230	19

SOURCE Authors’ analysis of 2012–19 Healthcare Cost Report Information System (HCRIS) data. NOTES Price ratio estimates reflect estimated commercial revenue-to-charge ratios divided by Medicare revenue-to-charge ratios. The commercial-to-Medicare hospital price ratios for these nineteen HRRs fall into the top quartile of ratios in 2012 and, among hospitals in the top quartile of ratios in 2012, the top quartile of ratio increases during the 2012–19 study period.

^aPercentage points.