Price transparency in the medical field as in every other field will lead to greater efficiency and competition as higher-priced providers will have to either justify their higher prices to customers or charge less. Free markets with transparent price discovery? What a concept!
I've worked in health insurance and in a hospital system. When the rule was promulgated, I knew it would fail, mostly due to the dynamics of the pricing systems and their complexity. I'd be happy to discuss with the authors - not to pick anything apart, but perhaps to give a different perspective. I'm on your side.
INVESTIGATION: Hospitals Ignoring Price Transparency Rule Rack Up Billion-Dollar Profits
I think the hospitals will gladly pay the 2 million fine to NOT publish their costs.
Price transparency in the medical field as in every other field will lead to greater efficiency and competition as higher-priced providers will have to either justify their higher prices to customers or charge less. Free markets with transparent price discovery? What a concept!
This sadly doesn't surprise me one bit given everything that's happened over the past few years.
I've worked in health insurance and in a hospital system. When the rule was promulgated, I knew it would fail, mostly due to the dynamics of the pricing systems and their complexity. I'd be happy to discuss with the authors - not to pick anything apart, but perhaps to give a different perspective. I'm on your side.
Is there any sort of collective action or other recourse for individuals to pursue against a specific hospital?
Excellent reporting! Thank you.