Hospitals will have to post prices online starting Jan. 1

Dec 30, 2018

  1. MedicareMillionair
    Offline

    MedicareMillionair Guru

    Posts:
    318
    Likes Received:
    283
    State:
    South Carolina
    That should include Europeans and Canadians. We need to stop subsidizing the worlds RX costs.
     
  2. Newby
    Offline

    Newby Guru

    Posts:
    14,124
    Likes Received:
    1,004
    State:
    Indiana
    Yes! Yes! Yes!
     
    Newby, Jan 3, 2019
    #12
  3. somarco
    Offline

    somarco That Medicare Expert Guy

    Posts:
    29,024
    Likes Received:
    2,620
    State:
    Georgia
    They really don't have a choice. If they accept govt funds, which almost every hospital does, they are required to treat Medicare patients.

    Medicare pricing is not negotiated.

    If a provider accepts Medicare they agree to abide by the fee schedule and are not allowed to balance bill.

    This is true when insurance is involved.

    Many do not have dental or vision insurance. Likewise, most dental and optical providers do not "join" networks and do not discount their fees. I believe the participation number for dentists is less than 20%.

    While most dentists will file claims for the patient most will bill their regular fee. The patient is responsible for the difference.

    Lasik surgery is a perfect example of free market pricing. For many years the treatment was experimental and not covered by insurance (including Medicare). What started out at several thousand dollars per eye is now a few hundred for some procedures.

    When insurance is not in the picture free markets prevail . . . which follows what Scott (Newby) was saying.
     
    somarco, Jan 3, 2019
    #13
  4. MedicareMillionair
    Offline

    MedicareMillionair Guru

    Posts:
    318
    Likes Received:
    283
    State:
    South Carolina
    I travelled to silver spring, MD for umbilical hernia repair. It was $1,800 cash (he didn’t accept insurance) out the door by a top rated Doc. It was my full deductible under Obama Care here in SC. About $5,000 - $6,000.
     
  5. Northeast Agent
    Offline

    Northeast Agent Guru

    Posts:
    514
    Likes Received:
    273
    State:
    Pennsylvania
    Her insurer’s price tool estimated less than $1,375 for a breast MRI. Then she got a bill for $3,200.

    As of Jan. 1, the Centers for Medicare and Medicaid Services requires hospitals to list the “chargemaster” price for every service, procedure and medication they have. But few people pay chargemaster prices, which are the starting point for rate negotiations with insurers. Plus, the prices are displayed in hard-to-interpret spreadsheets on hospital websites.

    One of the loudest criticisms of price tools is that patients don’t use them, because they’re difficult to navigate, provide inaccurate information, or don’t result in significant enough savings.
     
  6. somarco
    Offline

    somarco That Medicare Expert Guy

    Posts:
    29,024
    Likes Received:
    2,620
    State:
    Georgia
    Well I could say "I told you so" but I won't.

    As you mentioned, most patients won't use them and virtually none of them are aware of price differentials from one provider to another. The typical consumer thinks in terms of copay's and anything beyond that is Greek.

    They also have no clue about par vs non-par pricing.

    DC's idea of price transparency is a joke. Extra cost for hospitals who are already squeezed by Medicare, Medicaid and uninsured. Throw in cutbacks for DSH payments and it's not surprising so many hospitals are folding. Many of those left have closed ER's and OB departments.
     
    somarco, Jan 10, 2019
    #16
  7. MedicareMillionair
    Offline

    MedicareMillionair Guru

    Posts:
    318
    Likes Received:
    283
    State:
    South Carolina

    I'm taking away this is another expensive program and will be very ineffective. Is anyone surprised?
     
  8. gregj
    Offline

    gregj Super Genius

    Posts:
    137
    Likes Received:
    42
    State:
    Arizona
    the folks in DC don't issue so much as a wet fart if industry leaders don't give them the go-ahead.

    Regulatory capture. look it up.
     
    gregj, Jan 13, 2019
    #18
  9. goillini52
    Offline

    goillini52 MAGA...Eat More Bacon & BUILD THAT WALL!!!

    Posts:
    18,451
    Likes Received:
    4,720
    State:
    Illinois
    I hate wet farts!!! They make my underwear feel funky. :confused:
     
Loading...