Study: Flying Blind On Hip And Knee Implant Costs, Insurers Reimburse Far More Than Hospitals Spend On These Devices
Findings published in the Journal of the American Medical Association conclude that insurers pay as much as double the costs paid by hospitals, a payment discrepancy that leads to higher premiums for patients.
Insurers Pay Twice As Much As Hospitals For Hip And Knee Implants
[A] new study in the Journal of the American Medical Association reveals they are paying more than twice what hospitals do for devices inserted into hundreds of thousands of patients every year. This overpayment trickles down to patients in the form of higher premiums, say the study’s authors, but with regards to patient safety, the lack of information about manufacturers means it’s nearly impossible to track the performance of the implants ... commercial insurers paid an average of $10,605 for knee implants, while hospitals paid an average of $5,023 to get the devices from manufacturers. The difference was even greater for hip implants — $11,751, compared to $5,620. (Ross, 2/28)