I confess I never heard of the "Chargemaster" term before. - A quick internet search was enlightening. Posted: Dec 6th, 2019 - 5:25 am In Reply to: This is disgusting beyond all comprehension and the - puppets in DC let it happen and
The Role of the Hospital Chargemaster in Revenue Cycle Management yielded this tidbit:
Hospitals use their chargemaster prices to negotiate reimbursement rates with private payers. And most patients do not see the chargemaster price from their hospital encounter unless they are uninsured and must actually pay the chargemaster rate.
Consequently, hospitals tend to set chargemaster prices to remain competitive and negotiate higher rates from private payers. As a result, their prices are usually significantly higher than actual costs of care.
This certainly explains the numbers on our Explanation of Benefits statements. Oh, and the Baycare health system here in Pinellas County seems to be following the article's formula ... it's a "non profit" with a rabbit's warren of separate companies and subcontractors.
LINK/URL: I confess I never heard of the "Chargemaster" term before.
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