Miami Children’s Hospital cuts chargemaster prices

Filed Under: Costs, Patients, Providers

“On Tuesday, Miami Children’s Hospital … reduced by 30 percent the theoretical prices on chargemasters, the pricing documents that detail all the related charges a patient runs up for services but not the amounts most people actually pay.

“The revised prices, said Tim Birkenstock, chief financial officer, will more accurately reflect what Miami Children’s collects from insurers.

“That, in turn, should give consumers a reliable reference to estimate their out-of-pocket costs, which will vary depending on their health plan type, benefits and other factors. However, the amounts insurers pay to Miami Children’s will not change.

“Miami Children’s also is in the process of developing fixed prices for about a half-dozen of the hospital’s most common services, such minor dermatological procedures and wound closures, removal of tonsils and circumcisions.”

Daniel Chang, The Miami Herald, Miami Children’s Hospital Part Of A Trend: Revealing Prices – Kaiser Health News.