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Diane Publishing Books
Medicare: Lack of Price Transparency May Hamper Hospitalsäó» Ability to Be Prudent Purchasers of Implantable Medical Devices
James C. Cosgrove (au)
Implantable medical devices (IMD) -- including a variety of cardiac and orthopedic devices provided to Medicare beneficiaries in inpatient or outpatient hospital settings -- represent a significant share of hospitalsäó» supply costs. Hospitals purchase IMDs directly from manufacturers or through group purchasing organizations (GPO) and their purchasing agreements often contain confidentiality clauses restricting them from revealing to third parties the prices they pay for such devices. Policymakers are concerned that the lack of price transparency inhibits competition in the device market, leading to higher costs. This report examined (1) medicare spending and utilization trends for procedures involving IMDs provided to beneficiaries; and (2) what available information shows about the prices hospitals pay for IMDs and any factors particular to the IMD market that influence those prices. Tables and figures. This is a print on demand report.
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