Thanks for posting the interview from Health Care Blog on price transparency. I did not fully understand the business concept as described in the interview. I could not really tell who the customers were or how the vendor made any money. I might listen to it again….
Price transparency will not be easy to install. Let’s say that my doctor recommends me for hip replacement surgery. Yes, I want to know the sticker price at the ABC hospital where the surgery is scheduled…..but what I really want to know is the net cost to me after the insurance has paid its share.
The XYZ hospital across town may have a lower sticker price, but big deal if they are not in my network. Also, most medical procedures have ten or twenty or more “sub-codes” depending the seriousness of my impairment….
and then there is the justifiable “caveat” that I might have a heart attack during the surgery or something like that, which makes all quoting irrelevant.
I am no stranger to price transparency. I worked for a firm that maintained a quoting system for term life insurance. Medical procedures are much tougher!!
Thanks for posting the interview from Health Care Blog on price transparency. I did not fully understand the business concept as described in the interview. I could not really tell who the customers were or how the vendor made any money. I might listen to it again….
Price transparency will not be easy to install. Let’s say that my doctor recommends me for hip replacement surgery. Yes, I want to know the sticker price at the ABC hospital where the surgery is scheduled…..but what I really want to know is the net cost to me after the insurance has paid its share.
The XYZ hospital across town may have a lower sticker price, but big deal if they are not in my network. Also, most medical procedures have ten or twenty or more “sub-codes” depending the seriousness of my impairment….
and then there is the justifiable “caveat” that I might have a heart attack during the surgery or something like that, which makes all quoting irrelevant.
I am no stranger to price transparency. I worked for a firm that maintained a quoting system for term life insurance. Medical procedures are much tougher!!