Healthcare price transparency

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Is it possible that hospitals, healthcare providers, doctors, and insurers will have to reveal their prices publicly ? Usually these details are kept secret from patients and they cannot know the cost of their healthcare.

Rates might become available on public websites so that consumers can see the price of healthcare services. The goal appears to be empowering the American public so that they may shop for medical services. There are many hurdles that will oppose transparency. The American Hospital Association said it is against this policy move. 

Patient advocate groups have a different opinion about this proposal.

Nevertheless, the government enacted the 21st Century Cures Act in 2016, which would give authority to enabling price transparency across the entire healthcare industry.

Both patients and employers are seldom able to see the costs and the driving factors of enormous medical bills.

Fresh information and clarity about services and their pricing in healthcare would surely impact the behavior of patients and how they decide to improve their health.

Out of network providers and in network providers would be less confusing for people and the entities paying for the care as well. One can imagine less paperwork for these stakeholders and relevant parties would an extra plus.

Price transparency would also make healthcare practitioners compete fairly for patients as individuals would have the potential to shop for their care for the first time ever.   

This is a summary from the news that appeared on 7 March 2019 from Washington.

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