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!"
You laugh but that's an argument they gave. In essence they said that knowing that another hospital had a higher price would cause other to increase it's price to match...you know, the opposite of the real world.
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.
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.
You laugh but that's an argument they gave. In essence they said that knowing that another hospital had a higher price would cause other to increase it's price to match...you know, the opposite of the real world.
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.
Most of us don't live near large cities.
What percentage of Americans do not live within an hour of a city with a population of 100,000? I would guess less than 10%.