The payer mix of a hospital involves multiple sources of reimbursement for its services. These include out-of-pocket payments by patients, Medicare, Medicaid, and private insurance plans. Since pricing can be complicated in hospitals, they rely on chargemasters to compute prices. A chargemaster is a list of prices of goods and services offered by the provider. It’s recommended that the payor mix from payers such as Medicare and Medicaid be lower while maintaining a higher payor mix for private insurance and self-pay. A payor mix is a portion of the revenue received by a healthcare provider from the payer.