05-13-2013, 10:03 AM
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Choice is an Illusion
Industry Role:
Join Date: Feb 2005
Location: Land of Obama
Posts: 42,635
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This News Is Bound to Give Obamacare a Big Boost
Good news for minte!
Quote:
Price transparency could be welcome news for hospitals and insurers
Believe it or not, price transparency among hospitals wouldn't actually be all bad news.
Pricing transparency would also be good news for the consumer because it would make costs visible and allow hospitals to compete with one another in order to gain procedures. While you're not likely to drive 400 miles to treat a broken arm, you may be willing to do so if it means saving $10,000 or more on another elective treatment or procedure.
This would also be a big, big gain for insurers! Most insurers understand that hospital pricing across the country can vary widely and currently have a sort of one-size-fits-all pricing policy to cover those variances (beyond individual qualifying factors). By making prices more transparent and holding hospitals accountable for those prices, insurers would have good recourse to lower premiums for individuals and businesses with much of that pricing uncertainty removed.
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Enough Said.
"Would you rather live like a king for a year or like a prince forever?"
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