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For Hospitals, Clinics and Physicians
[By Staff Reporters]
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.
State Initiatives
More recently, at least 38 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 $124,561and 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.
Assessment
Such initiatives demonstrate increased industry competition and advancing patient empowerment with CDHPs.
Current Updates for 2010
Link: http://www.govtrack.us/congress/bill.xpd?bill=h111-2566
Conclusion
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Filed under: Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance | Tagged: CDHPs, Medical Pricing Transparency |
The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants 
The Quest for [Medical] Price Transparency
http://thehealthcareblog.com/blog/2011/05/07/the-quest-for-price-transparency/
Ann Miller RN MHA
[Executive-Director]
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‘Medical Price List’ Legislation Dies
Imagine if finding out the cost of a particular treatment or procedure at a doctors’ office was as easy as locating the prices of entrees at a restaurant. The menu might read: school physicals – $40; office visit for a cold – $80; diabetes screening – $200.
While a recent Florida state House committee approved legislation that would expand the state’s requirement that certain providers post the out-of-pocket prices of common health care services, a state Senate committee shot down a similar measure after an aggressive lobbying push by health care provider groups.
http://www.physiciansnews.com/2012/01/31/dream-of-a-medical-%E2%80%98price-list%E2%80%99-dies-in-florida-legislature/
Sheldon
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Sheldon
As a client or patient, I don’t want to pay a lawyer or doctor by task. I want my lawyer or doctor to be able to reallocate his time [from voir-dire to summation or from diagnosis thru treatment] IOW: from arrest to release and from illness to wellness. Why?
If each hour of time is compensated at the same rate, he/she will feel free to allocate the last hour spent to its highest valued use rather than to the activity that is paid the highest fee.
Dr. David Edward Marcinko MBA
http://www.BusinessofMedicalPractice.com
[Editor-in-Chief]
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Medical Transparency
Price transparency could save billions in health care costs, according to Joseph Burns.
http://healthjournalism.org/blog/2014/05/research-price-transparency-could-save-billions-in-health-care-costs/
Linda
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Reference Pricing
Most Americans don’t shop around to find the best value medical services, often lacking the financial incentives and price and quality signals that motivate price shopping in other industries. One major employer sought to change that by offering employees access to a price transparency tool in conjunction with a high-deductible health plan.
But, it wasn’t until they added reference pricing that they began to see evidence of shopping. This Research Insights highlights key findings from a paper authored by Dr. Christopher Whaley and colleagues, with support from a NIHCM Foundation research grant, that shows how reference pricing succeeded where other approaches to spur shopping in health care failed.
https://www.nihcm.org/categories/how-can-we-increase-patient-shopping-for-high-value-providers
Any thoughts?
Dr. David E. Marcinko MBA
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