Hospital Price Transparency

Hospital price transparency is not only here, but it's the future in Healthcare and cost related. One of the several reasons healthcare costs are so high is because cost information has been a closely guarded secret. After all, the last thing most hospitals want is to have there procedure/treatment prices blasted all over the Internet. And limiting competitor presence by acquiring other medical practices throughout geo-locations has been a big driver for many hospitals. Perhaps, the days of price gouging are over as we move forward to lowering costs throughout the healthcare landscape.

In a nutshell, since this blog post seventeen states and counting have implemented bills under new laws that would require states to provide user-friendly platforms allowing consumers to research the costs of healthcare services. These searchable services and the analysis of data vary from state to state. For example, some cost data will include chargemaster data, while other databases will include carrier reimbursement rate, provider charge, provider volumes regarding procedures or treatments etc. With many variables to consider, fine tuning this massive collection of healthcare price data will be key so that consumers can make better informed healthcare decisions.

For a more detailed list of state healthcare price information and disclosures regarding state actions on these bills, click here.