Hospitals Now Have To List Prices For Medical Procedures, But Experts Question The Usefulness For Consumers
"The only people for whom these list prices are remotely relevant are those among us who don't have any health insurance at all," said Martin Gaynor, professor of economics and health policy at Carnegie Mellon University. Even just knowing the difference between what one hospital charges versus another won't mean much in practice for consumers.
Want To Know The True Price Of A Hospital Procedure?
The cost of health care in the United States is an ongoing conversation. As a way to create transparency around the price of medical procedures, back in April the health and human services secretary, Alex Azar announced a provision that requires hospitals to post the prices of their services online. ...Not everyone agrees with the proposal, including Martin Gaynor, professor of economics and health policy at Carnegie Mellon University. He believes the new regulation won’t help consumers in the long run. (Adams, 1/4)
San Jose Mercury News:
Hospital Prices: New Federal Rule Requires Costs To Be Online
Hoping to empower consumers who are shouldering more and more of their health care costs each year, the federal government this year is requiring hospitals across the country to post their standard price lists on their websites. Consumer advocates and industry experts applaud the move as a step toward price transparency in the Byzantine world of medical billing that can help keep a lid on costs by pressuring hospitals to be more competitive in their prices. (Woolfolk and Bartley, 1/6)