While applauding efforts toward price transparency in healthcare, the statement also questions the usefulness of the chargemaster data, since hospitals rarely receive the full list price unless the patient is uninsured or wealthy.
“Actual costs are much more helpful and can be combined with patient-centered outcomes to calculate the true value of a procedure,” wrote Dr. Mick in the statement. “Only then can value be compared across institutions, providers and regions and highly-efficient care identified, rewarded and replicated.”
He recommends expanded transparency efforts by all stakeholders, including the federal government, to more accurately assess the cost and quality of care and create a sustainable healthcare system.
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