There are a lot of different models of artificial hips on the market today, and there are many companies making these artificial hip implants. This is because there a lot of artificial hips being implanted, and they cost a lot of money. In fact, when a hospital buys the device, they pay between $4,500 and $7,500 per artificial hip joint, according to a policy think tank called the Advisory Board.
It is hard to know what it costs a patient with the hospitals routinely marking durable medical equipment (DME) way up, so the insurance company can than adjust them way down. Still, we are talking about thousands of dollars per device. As we have discussed in other posts on our Boston products liability blog, there are over 300,000 total hip replacement surgeries performed each year in the U.S. alone. This has resulted in something of a market free-for-all, with other companies trying to get a cut of the action.