Which statement best describes the relationship between pricing files and the chargemaster?

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Multiple Choice

Which statement best describes the relationship between pricing files and the chargemaster?

Pricing files hold the negotiated rates, allowances, and payer-specific pricing data that a hospital contracts with insurers and other payers. The chargemaster is the master list of billable items with base charges. When a service is billed, the system uses the chargemaster as the pricing source, but applies the data from pricing files to adjust those charges to the negotiated rates and payer allowances. In short, pricing files work with the chargemaster by providing negotiated rates and allowances to price charges.

Pricing files hold the negotiated rates, allowances, and payer-specific pricing data that a hospital contracts with insurers and other payers. The chargemaster is the master list of billable items with base charges. When a service is billed, the system uses the chargemaster as the pricing source, but applies the data from pricing files to adjust those charges to the negotiated rates and payer allowances. In short, pricing files work with the chargemaster by providing negotiated rates and allowances to price charges.

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