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Increasing Health 2.0 Financial Transparency
By Staff Reporters
www.PriceDoc.com is a free online service that empowers consumers to take control of their healthcare costs. PriceDoc allows patients to search for medical providers in their local area and compare fee schedules for specific procedures.
Assessment
With PriceDoc, healthcare providers are able to post their discounts in exchange for cash or credit card payment. The result is access to affordable healthcare for those with no insurance, high deductibles health plans or those seeking elective procedures.
Conclusion
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Filed under: Career Development, Healthcare Finance, Information Technology, Practice Management | Tagged: cash based medicine, fee schedules, HDHCP, healthcare pricing, high deductible health plans, PriceDoc.com, private pay |
The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants 
With money tight, an increasing number of patients are researching and comparing healthcare costs before choosing a healthcare facility.
http://www.fiercehealthfinance.com/story/recession-forces-more-patients-compare-healthcare-costs/2009-12-02?utm_medium=nl&utm_source=internal
What an epiphany!
The Cynic
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More on Hospital, Clinic, and Physician Pricing Transparency
Did you know that in 2007, federal and state legislatures called for hospitals across the country to make their prices “transparent.” The term was defined as the full, accurate, and timely disclosure of hospital charges to consumers of healthcare, as well as the process employed to arrive at those fees.
Moreover, transparency does not merely involve publishing a list of prices and fees.
Essentially, hospital CXOs must be able to present their prices in a manner that is understandable to the general public and they must be prepared to explain the rationale behind their charges.
Currently, at least 33 states have already proposed or passed legislation regarding publication of hospital charges. For example, the average cost for a hip, knee or ankle joint replacement is $38,443; while a heart valve operation is $124,561 and a back fusion is $60,406. Torrance California based HealthCare Partners now notes on its Website that it charges $15 for flu vaccines, $61 for a chest X-ray, while a colonoscopy costs $424.
Such initiatives demonstrate increased industry competition and advancing patient empowerment with CDHPs. Any thoughts, ME-P readers?
Dr. David E. Marcinko; MBA
[Publisher-in-Chief]
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