This is so much bigger than any other health care action that could be taken. A few years ago I did an analysis of why America's health care was so much more costly per capita than every other country in the world. At the very top of the list was the fact that the consumer didn't understand what competitive options were available to them. That and the fact that insurance companies "bargain" on the customers behalf.
This could lower costs across the board by 70%. This is huge. HUUUGE!
"After failing to prove any election fraud, this unscrupulous last ditch effort power grab from the failed presidency from Mr. Trump will cause Millions of doctors and nurses to lose their jobs. These frontline freedom fighters are our most important asset against the worst health crisis in human history (don't forget to wear your masks to bed kids). Billions of deaths will be on his head. He must be brought up on charges of crimes against humanity in the first hour of our Almighty God-King Harris's err... Biden's Presidency!"
Hospital “A” charges $10,000 for a total knee replacement. Hospital “B” charges $12,000 for a total knee replacement. Hospital “C” charges $15,000 for a total knee replacement.
You go to Hospital “C” because your insurance company says they don’t/won’t cover Hospital “A” or “B” because it’s “Out of Network”.
How does this law help if your Insurance company decides where you go, and you can’t afford to pay out of pocket?
It helps because the real price (the out of network/cash price) is now going to be obvious. Providers/facilities set that rate and everything else is determined by their relationship to the insurers.
This rate you are describing is the only rate they can change and is under their control and now it’s subject to competition.
Hospital “A” charges $10,000 for a total knee replacement. Hospital “B” charges $12,000 for a total knee replacement. Hospital “C” charges $15,000 for a total knee replacement.
You go to your local opioid dealer because the governor has again shut down "non-essential" care, and a knee replacement qualifies as "non-essential" just like a nose job or fake tits, for... reasons that are beyond you plebs.
You're right they are only doing average costs right now but they do have such lists now in some states. Check your state's hospital association website you might find it.
I see if you have any insights would be interested. Not as educated on the cost side of medicine as I should be. Anything in the works to make that a thing?
Are you crazy? This means they have to tell you upfront the price of anything they want to do. Meaning they can't just load up a huge amount of unneeded BS and then bill you for stuff you didn't agree to pay for.
I agree I think this is great for consumers but I think a lot of doctors do a lot of "BS" because they're always worried about lawsuits. There's a lot of scummy people out there that sue doctors for just about anything even when the doctor did their job well.
If it's anything like how veterinarians work, they will still do all the usual CYA but will have a price list for shit like MRI, Xray, CT scan and the like if you ask about it. This will also open up the ability to shop around for procedures that aren't urgent to make sure you're not going to get fucked by copays.
Obamacare also added so many layers of bureaucratic nonsense that some practices have like a 3:2 ratio of docs to billing employees, just because it takes a lot for them to even know what they are billing for.
Obamacare BS. Source: a private practice physician friend who has no idea what he can bill for until after his services are done.
The reason hospital prices are high is because they are arbitrary.
People come in for services, don't pay, and the hospital eats it. The Hospital has to recover those costs somehow so they basically make up whatever costs they need from paying customers to make up the difference. That's why you have $10k ambulance rides and $75 aspirins.
But if they have to list their prices in advance, they are beholden to that price. They can't just make shit up and grift off some sucker with insurance who comes in after a no fault accident.
Once the price is listed, even if it's insane, it allows other facilities to undercut. After all, an ambulance ride does not cost $10k. If a hospital is recovering its lost costs from treating crack addicts, the homeless, and illegal immigrants by thieving from paying cancer patients then guess what? An outpatient cancer center that DOESN'T have emergency services can under cut and you can price shop.
Without the price listing, the hospital can arbitrarily shift things around and steal from whomever however whenever, making it hard to compete because nothing is ever set, or transparent for either the hypothetical consumer or the hypothetical alternative business looking for opportunities.
People don't realize how big this is!
This is so much bigger than any other health care action that could be taken. A few years ago I did an analysis of why America's health care was so much more costly per capita than every other country in the world. At the very top of the list was the fact that the consumer didn't understand what competitive options were available to them. That and the fact that insurance companies "bargain" on the customers behalf.
This could lower costs across the board by 70%. This is huge. HUUUGE!
I'm most curious how the left, lying media and big tech will spin this... Or will they simply ignore it ?? 🙄🤔
"Why low healthcare prices are bad for you."
Hmm... Maybe:
"After failing to prove any election fraud, this unscrupulous last ditch effort power grab from the failed presidency from Mr. Trump will cause Millions of doctors and nurses to lose their jobs. These frontline freedom fighters are our most important asset against the worst health crisis in human history (don't forget to wear your masks to bed kids). Billions of deaths will be on his head. He must be brought up on charges of crimes against humanity in the first hour of our Almighty God-King Harris's err... Biden's Presidency!"
Ya, that sounds about right.
They'll say that this will lead to hospitals price fixing.
Hospital “A” charges $10,000 for a total knee replacement. Hospital “B” charges $12,000 for a total knee replacement. Hospital “C” charges $15,000 for a total knee replacement.
You go to Hospital “C” because your insurance company says they don’t/won’t cover Hospital “A” or “B” because it’s “Out of Network”.
How does this law help if your Insurance company decides where you go, and you can’t afford to pay out of pocket?
It helps because the real price (the out of network/cash price) is now going to be obvious. Providers/facilities set that rate and everything else is determined by their relationship to the insurers.
This rate you are describing is the only rate they can change and is under their control and now it’s subject to competition.
Most people have more than one option for care.
For example, I'm sure most people near large cities have half a dozen in network options for an MRI. Being able to comparison shop is a good thing.
IS THIS GOING TO EXPOSE THE 30K DEAD PATIENT COVID SCAM THING? IS THE RUBICON ALSO GOING TO EXPOSE THE SCAMDEMIC?
https://www.washingtonexaminer.com/news/cdc-director-acknowledges-hospitals-have-a-monetary-incentive-to-overcount-coronavirus-deaths
https://www.cbs8.com/article/news/verify/do-hospitals-get-paid-more-for-covid-19-cases/509-977c448f-d9a6-42f8-a443-968e9b610cac
Prob not but it's going to save you money and probably get you better benefits
Wake me when they require hospitals to offer Official Medical Fee Schedule prices based on ICD10 to the public like insurance companies pay.
Unbelievable that they don’t do this already. No ability for informed decisions.
You're right they are only doing average costs right now but they do have such lists now in some states. Check your state's hospital association website you might find it.
I don't need to. Lets just say I know this subject.
I see if you have any insights would be interested. Not as educated on the cost side of medicine as I should be. Anything in the works to make that a thing?
Are you crazy? This means they have to tell you upfront the price of anything they want to do. Meaning they can't just load up a huge amount of unneeded BS and then bill you for stuff you didn't agree to pay for.
I agree I think this is great for consumers but I think a lot of doctors do a lot of "BS" because they're always worried about lawsuits. There's a lot of scummy people out there that sue doctors for just about anything even when the doctor did their job well.
Doctors have insurance for that and lawyers paid for. Trust me , this is all around great news
If it's anything like how veterinarians work, they will still do all the usual CYA but will have a price list for shit like MRI, Xray, CT scan and the like if you ask about it. This will also open up the ability to shop around for procedures that aren't urgent to make sure you're not going to get fucked by copays.
Obamacare also added so many layers of bureaucratic nonsense that some practices have like a 3:2 ratio of docs to billing employees, just because it takes a lot for them to even know what they are billing for.
Obamacare BS. Source: a private practice physician friend who has no idea what he can bill for until after his services are done.
He can do more than one thing at a time. It’s okay.
This is actually a huge step to solving arguably one of the 10 biggest issues in America today.
True, it pales in comparison to these two - it's tiny compared to them.
But it's still a great initiative.
Imagine, knowing the price of a product or service before actually purchasing it. Then using that knowledge to shop for the best price possible.
That’s what Donald Trump did for our healthcare system
For literally everything else, I refuse to shop anywhere I can not see prices beforehand.
not I believe you dropped something.
Imagine going to a store to purchase a bottle of aspirin.
No one at the store can tell you how much it costs. Not even the cashier. But you can buy it, and in a few weeks you get a bill.
When the bill comes, the bottle of aspirin is 400 dollars.
Had you know the cost, you likely would have purchased it somewhere else.
This is the current state of the medical system in the US.
It’s even more than that.
Bottle of aspirin costs the store(hospital) $10
Hospital bills insurance $1000 for bottle of Aspirin
Insurance pays hospital $100 for bottle of Aspirin, charges customer $400 ‘co-pay’
Hospital takes ‘loss’ of $900 on accounting and taxes (but in reality made 90$ tax free, 90% profit)
Insurance makes $300 risk free premium off customer co-pay
This is the modern medical insurance fraud
Then 0 came along and made it if you didn't buy into the scam, you'd be penalized on your taxes.
Damn. Sexy break down of the issue. Thank you , makes sense to a lay person like me.
Thank you! I recognized a game of 3 card monty when I saw it, but didn't know the basics of how it was done.
Awesome synopsis, thanks.
The reason hospital prices are high is because they are arbitrary.
People come in for services, don't pay, and the hospital eats it. The Hospital has to recover those costs somehow so they basically make up whatever costs they need from paying customers to make up the difference. That's why you have $10k ambulance rides and $75 aspirins.
But if they have to list their prices in advance, they are beholden to that price. They can't just make shit up and grift off some sucker with insurance who comes in after a no fault accident.
Once the price is listed, even if it's insane, it allows other facilities to undercut. After all, an ambulance ride does not cost $10k. If a hospital is recovering its lost costs from treating crack addicts, the homeless, and illegal immigrants by thieving from paying cancer patients then guess what? An outpatient cancer center that DOESN'T have emergency services can under cut and you can price shop.
Without the price listing, the hospital can arbitrarily shift things around and steal from whomever however whenever, making it hard to compete because nothing is ever set, or transparent for either the hypothetical consumer or the hypothetical alternative business looking for opportunities.