how-price-tr - How price transparency will improve health...

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How price transparency will improve health care Brittney Hardwick Published 10:34 a.m. CT Jan. 24, 2017 | Updated 10:35 a.m. CT Jan. 24, 2017 Do you want to buy a car only knowing the first month’s payment? Would you shop at a store that would not give you the full price of your purchase until the bill arrived in the mail? Americans are doing this every day when it comes to spending on health care. Since the passage of the Affordable Care Act in 2010 the focus has been on access to health care. Access to health care is in the revitalization process across the nation, but is access the only problem Americans face when it comes to health care? Health care costs are the leading cause of personal bankruptcy in the United States. One critical problem is that our state government does not require health systems to provide upfront costs to patients in Tennessee so they can make informed decisions on their health care needs. This must change. Price transparency has become difficult because rates vary depending on insurance coverage, in and out of network charges, specific facility charges, and many more factors. Price transparency, in this sense, is to have hospitals or health clinics responsible for sharing their full rate for services — not just the upfront cost such as a co-payment or deductible. This in itself
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