A new report from Premier Inc (Charlotte, NC) found that some hospitals have price disparities up to $1,500 per knee implant and $1,700 per hip implant. Widespread variation in medical device prices and other resources represents a major opportunity to reduce unnecessary costs for many hospitals, according to a new analysis of 869 hospitals from Premier Inc. Premier’s analysis found improvements in length-of-stay for total joint replacement surgery, with the median falling to two days (50% of cases fell between 2-3 days). A subset of these hospitals also reduced length-of-stay by nearly one day over a five-year period. Additionally, 30-day readmission rates were low for the procedures, with only 3.1% of cases readmitted to the hospital. If all hospitals were able to meet or exceed the top 25th percentile pricing and close the gap, Premier identified a savings opportunity of $23.7 million for knee implants and $19.1 million for hip implants.
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