Over the past few years federal policymakers have instituted healthcare price transparency. Until last year, healthcare prices were largely, if not altogether, unknown to patients. As of this past July 1 most group health plans and issuers of group or individual health insurance are required to publicly disclose pricing information. As of this past January 1, providers were no longer able to surprise or balance bill patients for care they unknowingly received from providers outside their insurer’s network. As of January 1, 2021 hospitals have been required to provide clear & accessible pricing information about the items and services they provide. Though price transparency is sound in theory, what effect, if any, it will have on patient or consumer decision making, reducing price growth and influencing care delivery and innovation are largely unknown.
Share this post
Matthew Albright Discusses Hospital and…
Share this post
Over the past few years federal policymakers have instituted healthcare price transparency. Until last year, healthcare prices were largely, if not altogether, unknown to patients. As of this past July 1 most group health plans and issuers of group or individual health insurance are required to publicly disclose pricing information. As of this past January 1, providers were no longer able to surprise or balance bill patients for care they unknowingly received from providers outside their insurer’s network. As of January 1, 2021 hospitals have been required to provide clear & accessible pricing information about the items and services they provide. Though price transparency is sound in theory, what effect, if any, it will have on patient or consumer decision making, reducing price growth and influencing care delivery and innovation are largely unknown.