Cost Consciousness and Medical Education

Abstract

To the Editor: We commend Cooke's efforts in her Perspective article (April 8 issue)1 to increase readers' awareness of the near-universal ignorance of actual costs associated with the delivery of medical care.2–4 This lack of cost awareness affects all other components of the price equation, rendering us incapable of understanding the true economic value of medical care. It also makes us unable to engage efficiently in any potential negotiation.5 As end consumers, we as physicians must educate ourselves to know better — prices will never drop (even if the true cost is low) because of our lack of cost . . .