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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 | 5 Comments »
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