4 ms·
You’re not wrong! I for one am very excited about the potential benefits these Transparency in Coverage have for patients. Just the ability to shop the best rat
by baishtar 3y ago
You’re not wrong! I for one am very excited about the potential benefits these Transparency in Coverage have for patients. Just the ability to shop the best rates for common procedures can save thousands per year for some.
Sadly, I’ve noticed most businesses utilizing this price transparency data are primarily selling to hospitals/providers so they can negotiate better contracted rates with insurance plans.
- brendanyounger 3y agoYou're right, and I'm one of them (tynbil.com). Problem is, that's where the money is right now and those are the only customers willing to put up with slightly wrong data. On the optimistic side, what will happen sooner rather than later is that most billing codes will converge to an average market rate. Right now, there's no invisible hand guiding reimbursement rates because no one knows what anyone else is getting. Once a market rate is established, it'll be easier to compare providers. Provider A will be 15% less across the board than Provider B, but might have younger docs or lower quality scores.