What Are a Hospital’s Costs? Utah System Is Trying to Learn
Only in the world of medicine would Dr. Vivian Lee's question have seemed radical. She wanted to know: What do the goods and services provided by the hospital system where she is chief executive actually cost?
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Most businesses know the cost of everything that goes into producing what they sell — essential information for setting prices. Medicine is different. Hospitals know what they are paid by insurers, but it bears little relationship to their costs.