Easily Identifying Cost Variation Drives Savings of $600 Per Case
Use of Average Costs Leads to Inaccurate Information
In many organizations, it is difficult to meaningfully engage physicians in efforts to reduce the cost of care due in part to a lack in trustworthy information. Unfortunately, most organizations are not providing physicians with cost data or are providing cost data but seeing little action. For those organizations providing data, they may be using average costs for supplies and medications. This leads to inaccurate information in areas or procedures using high-cost implants, supplies, and pharmaceuticals, leading to data that is not trustworthy or actionable for physicians.
However, many physicians are increasingly interested, and even passionate, about reducing costs. They are equally passionate about providing high quality care and achieving favorable clinical outcomes.