Charges are irrelevant to the patient’s bottom line

By Pamela J. Gallagher

With increased calls for healthcare pricing transparency from consumers and government entities alike, hospitals’ chargemasters are moving from proprietary information to public knowledge. However, putting chargemasters under the microscope has not led to the clarity that patients are seeking regarding quality care at a price they can afford.

Nearly two-thirds of physician respondents in a 2019 NEJM Catalyst survey said that patients do not have enough information to affect the cost of their own healthcare–related decisions, and more than three-quarters of respondents say that assessing the total cost of care is extremely challenging for patients.

Business of Healthcare, Price TransparencyPamela J. GallagherDecember 18, 2019healthcare, finance, chargemaster, charges, costs, transparency, payment, patients, expenses

Healthcare execs, do you know what’s in your chargemaster?

By Pamela J. Gallagher

A hospital’s charge description master (CDM), or chargemaster, is often referred to as the “heart” of the healthcare revenue cycle. It includes codes for every procedure, material used, medication, and service that a healthcare organization provides its patients. It is the structure that drives the hospital, and is the starting point for billing patients and insurers and complying with public reporting. A typical health care system chargemaster may contain 15,000 to 25,000 entries, according to Becker’s Hospital Review.

Business of Healthcare, Financial ResponsibilityPamela J. GallagherNovember 19, 2019healthcare, finance, chargemaster, patient care, transparency

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