Dive Brief:
- A minority of orthopedic surgeons know the cost of the devices they implant the course of their work, according to a new study published this month in Health Affairs.
- For the study, researchers asked orthopedic attending physicians and residents at seven academic medical centers to guess the cost of 13 commonly used orthopedic devices.
- Attending physicians estimated cost correctly only 21% of the time, and residents, 17% of the time; 36% of physicians and 75% of residents rated their knowledge of device costs as "below average" or "poor".
Dive Insight:
While physicians and residents may not know what it implantable devices cost, their work accounts for a large percentage of some pricey medical procedures, so it's important that they become educated. However, at present many medical device companies restrict listing costs when they sign contracts with hospitals, as they consider pricing information to be proprietary. The bottom line, it seems, is that the health system has to find a way around this enforced ignorance, as we can't afford to write any vendor a blank check for their services or products.