This sounds good, but unless the consumer understands their risk factors and possible extra charges.
Take a standard baby delivery. Pretty common procedure actually. Unless the mother is a diabetic, overweight, with other complications. Then she is a higher risk.
People are going to be shocked at how expensive their shitty lifestyle choices are making things. And guess what? The hospitals will catch the blame.
When one of my older relatives had to be hospitalized some yrs ago, I publicly said to everyone to look out for the cost of the room, and went on to explain that 1 night in a hospital is more than a 2 week cruise on the most expensive cruise liner. They all laughed at me until they saw the bill some time afterwards.
This is a big deal. I tried to get cash prices for specific tests and procedures from a couple of local hospitals last year and the facilities refused. They would only give me a price after seeing a financial counselor and disclosing my income.
And, IIRC, Medicare regs allow rural hospitals to charge more. Wonder how this will affect that.
That information has been available online for years now. If people didn’t bother to look it up before what is going to make them do it now?
Price does not equal amount to be paid in the bizzaro economic world of medicine.
Which price? There are thousands of codes for items, and there are lots of prices, depending on who is paying. Even insurance company employees sometimes can’t figure out what something should cost. I don’t work in that field, but I hope people who do work in insurance and fields related to medical pricing will add information here.
Will they post the cash patient rate or the one for insurance and if so will they do it by carrier?
Hospitals negotiate rates w insurance companies. They have a contract with each one.
That may be a great idea and good move. Medical costs have been much of the problem.
Even if you are well enough to get care at home with help. They won’t release you from the hospital because the insurance companies will void the payment for the earlier days. Not health care. It’s hospital and insurance are.
And every doctor’s office should have to post the prices of the top 10 procedures they bill for based on their individual practice.
This is great news. Competition is what will bring down health-care costs.
If Drs & hospitals have to compete, THEY will find ways to cut costs in order to bring in the business.
Also post the Medicare, Medicaid and insurance rates so you know you are being overcharged.
not a bad idea ... this is a move towards transparent pricing that Rand Paul has been advocating for quite some time
MORE WINNING! Surley not perfect but a step in the right direction. Medicine in this country is a monopoly that needs to have its many self-serving protections ripped off and with extreme prejudice. Medicine is a right for all and a privilege to provide that comes at great public expense.
There is just no good reason medicine should consume one-fifth of our economy and be bent on shaking the last nickel out of our pockets while we die.