Is the median or the minimum the better reference?
The median is usually the better reference for a typical non-covered price, because half of disclosed prices are below it and half above.
The minimum and maximum show the extremes, which can reflect unusual cases.
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What does the median tell you?
The middle price, which is not pulled up or down by a few extreme prices.
What do the quartiles add?
The middle half of prices lies between the first and third quartiles.
Why not rely on the minimum?
A minimum can reflect a different package or a rare case.
Why does the number of institutions matter?
Distributions from few institutions are less stable; groups under five are hidden.
How should I use the distribution with a quote?
Check where the quote sits and ask what is included if it is far from the median.
Where do these numbers come from?
- Non-covered medical fee disclosure (by item and institution) Institution names are discarded after aggregation
- Consumer price index