We proposed a method to evaluate the material dispersion of the dielectric film in dielectriccoated silver hollow fiber. By taking into consideration the derived material dispersion, the wavelengths of the loss peaks and valleys in the loss spectra of the hollow fiber can be predicted more accurately. Then, we fabricated the dielectric-coated silver hollow fiber according to the parameters obtained by using the improved design method. The measured data showed good agreement with the calculated results. The loss for medical laser of Er:YAG and CO2 was less than 0.3 dB/m. The loss for green or red pilot beams was around 5 dB/m, which is sufficiently low for the purpose of pilot beam transmission. The derived material dispersion plays an important role in the design and fabrication of the hollow fiber for multiwavelength delivery.