How effective has the new requirement for hospitals to publish procedure costs been in improving price transparency?

Before diving into this one, here’s a little background on the topic. As a potential solution for improving price transparency in health care, a new federal requirement went into effect on January 1. It states that all hospitals operating in the U.S. must post prices online for the...

Jul 25, 2019

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2 min read

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How much progress is being made with price transparency in health care?

I’ll start by saying this is a topic that’s getting more attention than ever before from all parties involved, including health plan administrators, legislators, patients and providers. The issue of price transparency is now front and center as we’re seeing new cost comparison solutions being developed, administrators working directly...

Mar 14, 2019

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3 min read

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In reviewing two separate health claims for the same MRI procedure, how can the charges be so drastically different?

We see cases of this all the time. The same procedure is performed at two different locations (sometimes within just a few miles of each other), but the health claim charges are outrageously different. It’s the result of the tremendous lack of transparency in health care. Unfortunately, this pricing variation can...

Mar 15, 2017

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2 min read

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I’ve been hearing more about this concept of reference-based pricing. How does it work?

Before getting into the details of how it works, let me explain one of the fundamental reasons why reference-based pricing (RBP) was introduced in the first place. It was once quite common for benefit administrators to work with PPOs in negotiating discounted rates on behalf of employers and their health plans....

Aug 17, 2016

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2 min read

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Shopping Around for the Best Care - Variation in Health Care Costs

Most health-related tests and procedures aren’t exactly what you’d consider to be small, everyday expenses, are they? No matter your health coverage, these are typically things we need to plan for in advance and factor into our budgets. So, if it’s common practice to shop around for other big purchases...

Oct 26, 2015

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2 min read

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How do I know if I was charged a fair price for a recent in-patient procedure?

This has long been one of the hot-button questions in health care. What should my medical care cost? Here's the problem: there's never been enough transparency in pricing to allow us consumers the sort of master price list we so rightfully deserve. In 2013, for the very first time, the federal...

Jan 05, 2015

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2 min read

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