The cost of a hip replacement varies wildly from the relatively low price of $11,100 to the high price of $125,798, according to a 2011-2012 study outlined by the Arthritis Foundation. Furthermore, many hospitals do not even know the price of a hip replacement at their institutions.Continue Reading
The average estimate at a top-20 hospital as ranked by U.S. News & World Report was $53,140, says the Arthritis Foundation. The cost at a nonranked institution was $41,666. However, hip replacement surgeries paid out of pocket are rare; most patients get assistance from their private insurance plans or Medicare and Medicaid. Because those parties negotiate costs separately and privately, pinning down exact prices can be difficult. Patients should contact their insurers instead of hospitals to find out how much they might be expected to pay for hip replacement.
Hospitals and purchasers tend to agree on deals with device manufacturers, and the deals have privacy clauses, explains National Public Radio. Hospitals often prefer to use cheaper devices because Medicare pays a lump sum for hip replacements and other procedures. Using a cheaper implant means more profits for a hospital.
Surgeons often prefer to use devices from a certain manufacturer and may even get consulting fees and royalties from the manufacturer, says National Public Radio. Thus, some surgeons do not consider the cost to a patient when deciding on hip replacements.Learn more about Conditions & Diseases