Hospitals are increasingly asking patients to pre-pay for their health care. The trend is troubling, but it does mean at least one change for the better: price opacity may be on its way out.
Patients shop better when they know prices ahead of time, even when they’re not influenced by co-pays and deductibles. So why is price transparency missing from the reform agenda?
In part because of the ACA, hospitals are increasingly acquiring independent physician practices. When that happens, the cost of health care can increase by as much as 20 percent.
Massachusetts has just taken a huge leap ahead in health care price transparency, launching a new tool that lets customers find prices on their insurer’s website. This will make providers more competitive and consumers more responsible.
Yet another study has confirmed what we should already have known: people respond to price signals. That making prices transparent isn’t one of the highest priorities in health care reform is unfathomable.
A new Department of Labor report shows health care spending rising even as incomes stagnate and overall consumer spending declines. Americans will be squeezed past endurance if we don’t make health care cheaper—and in some ways we already know how.
One-third of large companies will offer their employees high deductible plans next year. Everything we know so far about health care spending suggests big savings could be ahead.
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We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.