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TN Receives an "F" in Price Transparency

Tennessee is one of 29 states that received an "F" in a report released today by Health Care Incentives Improvement and Catalyst for Payment Reform.

Tennessee is among the majority of states that provides information on hospital and some outpatient "charges". But we know that "charges" are only relevant to those that have no insurance since both public and private insurance plans negotiate prices and therefore do not pay charges. In fact, the negotiated price has little, if any, relationship to the charge.

Only Massachusetts and New Hampshire received "As". They share prices for inpatient and outpatient  services as well as for physicians and hospitals through a publicly accessible website and in reports.

According to Francois de Brantes, Executive Director of Health Care Incentives Improvement Institute, “We know from studies that the price for an identical health care procedure performed in the same city can vary by as much as 700 percent, with no difference in quality. When consumers shop for value, they can help rein in health care costs. But to do this, they first need timely and actionable price information.”

de Brantes sums it up nicely, “It should be concerning to every lawmaker in the country that 18 percent of the U.S. economy is shrouded in mystery,”

de Brantes is a keynote speaker at MBGH's August 29 Annual Conference.

Read the full report.

Read an article on Forbes.com.



Posted by Cristie Travis at 8:26 AM

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