In the nation's largest hospital market there is a direct correlation to pricing and net patient revenue, reported Crain's New York Business.
According to an analysis of the finances of New York-area hospitals, those facilities that charge the most also tend to take in the most revenue.
Two of the priciest facilities--New York-Presbyterian Hospital and Montefiore Medical Center--also raked in the most net patient revenue last year, $3.7 billion and $2.9 billion respectively.
New York-Presbyterian's average Medicare charge was $50,676, while Montefiore's was more than $56,000. The one big exception was Mount Sinai Hospital, with an average Medicare charge of $36,443, but net patient revenues of $1.7 billion, fourth-highest on the list.
Crain's made the analysis in the wake of the Centers for Medicare & Medicaid Services' release last month of what hospitals nationwide charge Medicare for the most common procedures.
In addition to the correlation between Medicare charges and net patient revenue, Crain's also discovered that those hospitals situated in wealthier areas of New York tended to do better financially--many received patients from not only across the city, but other parts of the country.
To learn more:
- read the Crain's New York article
HHS releases hospital price data
Healthcare cost microcosm viewed through colonoscopies
Hospital 'deserts' a growing problem in major urban centers
After CMS releases chargemaster data, hospitals mull price changes