Lack of price transparency for medical devices hurts hospitals

A new Government Accountability Office report concluded that a lack of price transparency makes it difficult for hospitals to obtain the best prices on medical devices. The report, which examined Medicare claims data between 2004 and 2009, found that a substantial variation existed in the prices hospitals pay for medical devices. In some instances, the variation was thousands of dollars. Doctors' differing preferences for specific medical devices and confidentiality clauses barring hospitals from sharing price information may contribute to the disparities, according to the report. Report

Suggested Articles

We take a look back at health insurers' financial performance, including soaring profits, in Q2.

Employment growth in the healthcare industry cooled off in July as the sector added fewer jobs than in June as COVID-19 continues to spread.

Employers are making adjustments to their health benefits in the wake of COVID-19, but workers may not take the time to consider these new options.