Hospitals will have to post prices online starting Jan. 1

[MedicareMillionair]

It’s definitely a step in the right direction. The next one should be that everyone pays the same price. Regardless of insurance, Medicare, etc. everyone on an even playing field.

That should include Europeans and Canadians. We need to stop subsidizing the worlds RX costs.

 

[Newby]

That should include Europeans and Canadians. We need to stop subsidizing the worlds RX costs.

Yes! Yes! Yes!

 

[somarco]

If they lose money on Medicare then they should charge more to Medicare.

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.

We have no price competition between providers because individuals pay only the OOP and not the actual cost of service. Once they meet the OOP, they don't care what services cost.

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.

 

[MedicareMillionair]

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.

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.

 

[Northeast Agent]

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.

 

[somarco]

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.

 

[MedicareMillionair]

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.

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

 

[gregj]

the folks in DC feel good making up rules

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.

 

[goillini52]

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.

I hate wet farts!!! They make my underwear feel funky.