Albert DiPiero MD MPH
The Trump administration has implemented a new rule that requires hospitals must publicly reveal their master price lists online. As I have written about before, I believe this will be a game changer for healthcare. Dave and I have deep experience with the power of transparency. (See here: Link to other postings and articles on the topic we have written about on quality and pricing). Even though today the lists of prices are a mess, incomprehensible to the average patient, this is just the start.
“But don’t dismiss the lists as useless. Think of them as raw material to be mined for billing transparency and patient rights.”
Posting prices will shine and bright light on the sordid business of pricing and discounts that create a profound barrier to price and quality competition and serve mostly to reinforce the status quo and protect the revenue of legacy players. As California Healthline reports, the public postings already “Exposes Wild Fluctuation” in prices at hospitals just miles apart. Ultimately - and sooner than we think - this confusion will create deep internal conflicts, and healthcare entrepreneurs will come forward with services and prices that make sense to the average consumer. Let the revolution begin!
Analysis: Pulling Back Curtain On Hospital Prices Adds New Wrinkle In Cost Control
Read California Healthline: Transparent Hospital Pricing Exposes Wild Fluctuation, Even Within Miles