Definition
A hospital's comprehensive list of prices for every item and service, from aspirin to surgery. Chargemaster prices are typically 3-10x the actual cost and rarely reflect what anyone actually pays. These inflated list prices serve as the starting point for negotiations with insurers.
Related Terms
- CPT Code
Current Procedural Terminology code — a standardized 5-digit numeric code used t...
- ICD-10 Code
International Classification of Diseases, 10th Revision — a standardized code sy...
- Allowed Amount
The maximum amount your insurance plan will pay for a covered service, based on ...
- Balance Billing
When an out-of-network provider bills you for the difference between their bille...
- No Surprises Act
A federal law effective January 2022 that protects patients from surprise medica...
Understanding healthcare terminology helps you communicate more effectively with providers and make informed decisions about your care. Use our procedure cost database to find fair prices for any medical service.