Hospital Pricing Data Dump Won't Hurt You, Yet
Whether or not bureaucrats 30 or 50 years ago cooked up insane compensation guidelines is, of course, out of your control. If you want to get paid, you have to play that game. But the rules are slowly changing, and you have to adapt.
Because of this convoluted system, you can't kill your chargemaster today, but over time, you may be able to minimize its importance and its outrageousness. We've at least dispensed with the myth that the chargemaster doesn't matter.
See Also: Kill Your Chargemaster
In fact, it does matter a lot. The chargemaster is one variable in the Rube Goldberg device that determines how you are reimbursed for the work your organization does. It also matters in public perception, but you should have known that for the past decade or so.
Still, take solace in the fact that you have time to rectify the situation. Or so suggests a report from Moody's Investors Service that maintains that the near-term credit impact of the big CMS data release is minimal. (Moody's is supposed to be in the business of measuring risk, after all, for institutional investors in your bonds). The report says, in part:
"The CMS data provide transparency in hospital charges, but given the fact that the actual price for a given service depends on the negotiated price between the hospital and insurance company, the disclosure of charges does not allow consumers to compare actual prices. Therefore, we believe the immediate credit impact to individual hospitals and the industry as a whole is minimal."
- NCQA Releases Annual Health Plan Rankings
- Technology Lights Up Health Innovation Forum
- Few Winners Among MSSP Participants
- How much does that x-ray cost? You can find out in NH
- Data Points to Boom in Private HIX
- When a hospital closes
- Anthem Blue Cross, 7 CA Health Systems Create New Challenger, Business Model
- Administration: 7.3M now enrolled in Obamacare
- US health system among least efficient before Obamacare
- EHR Systems 'Immature, Costly,' AMA Says