What does charge and cost really mean in regards to healthcare?
The hospital’s charge does not include professional fees such as for a physician’s or surgeon’s services. • Average and median charges shown are based on data that hospitals submitted on their annual cost reports. For more details on the specific cost reports used for Consumer Scope™, see Database Information. • “Charge” and ”’Cost”’ are not the same as ”’expected payment”’ ”’Charge”’ is the amount billed for a service. ”’Cost”’ is the amount of money the hospital spends on supplies and services to treat the patient. Cost does not include the hospital’s profit margin. • Because each case is different, a given patient’s charge will not necessarily be the same as the average or median charge. The charge and cost information is the average for all patients for that particular procedure. Your specific charges will be based on specific circumstances surrounding your treatment. • The hospital’s charge does not include professional fees such as for a physician’s or surgeon’s services
