ROSEMONT, Ill.—Each year, more than 300,000 Americans, primarily adults over age 65, sustain a hip fracture, a debilitating injury that can diminish life quality and expectancy, and result in lost work days and substantial, long-term financial costs to patients, families, insurers and government agencies. And while surgery, the primary treatment for hip fractures, successfully reduces mortality risk and improves physical function, little is known about the procedure's value and return on investment.