A Radical Idea: Patients Should Know What Healthcare Costs
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  • Jacksonian_Libertarian

    It’s the feedback of competition that forces continuous improvements in Quality, Service, and Price, in free markets.
    We will know we have arrived at a healthcare free market, when Healthcare providers are advertising their products and services to get more patients.

  • It’s not just that prices must be transparent, they must be REAL. That means hospital ‘chargemaster’ prices have to become a relic of the past, and the whole in-network/out-of-network paradigm be radically revised.

  • rheddles

    Price transparency will not change the “cost curve” if patients do not bear a significant portion of those costs. It is the combination of transparency and the consumer having wallet as well as skin in the game that will assure proper allocation of resources. You need incentive as well as information.This is true in all markets. And it is a cure-all.

  • Jason

    I was actually at the American Medical Association Interim Conference this past weekend, and this issue was discussed with the AMA leaning towards referring it to one of their research councils to find more information.

    A big thing you mentioned is what the AMA is actually trying to research – how to get transparency on what patients pay out-of-pocket. Hospitals will always have some ridiculous sticker price for uninsured, which they do not expect to get back from both out-of-pocket payers or insurance companies. Many of these list prices are just ways to start from a stronger negotiating position when it comes to extracting payment.
    Funny enough, our focus now is to get more physicians to do the whole “motivational interviewing” thing to try to get patients to take care of themselves more, depriving us of fee-for-service opportunities.
    Pay reform is coming!

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