First Posted at Cracking Health Costs on 5/10/2013
Leah Binder has written a great article in Forbes and recent revelations on hospital charges and the lack of correlation with quality. Click here to read the full article.
Writes Leah, “A Rational Person might wonder if the variation in hospital pricing is somehow related to variations in quality…There is simply no relationship between price and quality in healthcare.”
Further, “The findings are bizarre. The average cost of a pacemaker implant at one hospital is $127,038, while at another hospital it’s just $66,030. Joint replacements range from $5,304 in Ada, Oklahoma, to $223,373 in Monterey, California.”
Often it seem the best rated hospitals may have among the lowest charges. Unfortunately the opposite is true too. In short price has nothing to do with quality.
“…employers and other purchasers in the private sector need to be more aggressive in the healthcare marketplace.”