The US healthcare system relies heavily on chargemasters - comprehensive lists of prices for each procedure and service at hospitals. Chargemasters are kept secret and lead to highly inflated costs. Insurers negotiate discounts, but uninsured patients can face massive bills based on inflated chargemaster prices. Lack of standardization and transparency in chargemasters contributes to high healthcare spending in the US compared to other nations. Regulations on hospital pricing and billing practices have been minimal. Moving to fixed-rate payments could help control costs and reduce reliance on chargemasters.
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