Hospital Pricing Data Dump Won't Hurt You, Yet
So, even if you can't kill your chargemaster, you can modify it appropriately, and by doing so, you could go a long way toward rationalizing the insane numbers that make it up. Better yet, perhaps you could adopt a strategy of being the low-cost, high quality leader in your area.
At its core, this data release paints a portrait of what a screwy health reimbursement system we have in those numbers in black and white on the map application I steered you to last week at the New York Times.
Anyone can look into the black box that cooks up their payment rate and make a reasonable guess as to whether their the high-cost outlier in their area. Those numbers have the power—at least in non-near-monopoly markets—to steer business to competitors if the difference is enough.
Even if that educated guess isn't enough to move your customers (that is, payers, employers, and patients) to the competition, you can bet they'll assume the worst, and at the very least ask you to prove that you're not the high-cost outlier, despite what the CMS data says about your chargemaster and what the government pays you.
- Antibiotic Overuse a 'Huge Threat' to Patient Safety, Says CDC
- 3 Traits Personality Assessments Can't Reveal
- Consumerism Drives Healthcare Branding, Rebranding Efforts
- CFO Exchange: Smartphones Poised to Disrupt Healthcare, Says Topol
- PA Ranks See 'Phenomenal Growth,' Lack of Diversity
- CHS Hacked, 4.5M Patient Records Compromised
- Business Roundup: M&A Activity Down Slightly in First Half of 2014
- CFO Exchange: Healthcare Leaders Share 5 Innovative Ideas
- Large Employers Trimming Healthcare Spending
- 3 Things the Ice Bucket Challenge Can Teach Hospital Marketers