May 29, 2019
The Wall Street Journal and other leading publications are reporting that plans are afoot in Washington to issue a pricing transparency mandate that will affect how Americans shop for, receive, and pay for healthcare services in America. According to the reporting, the White House is developing a strategy aimed at bending the healthcare cost-curve by giving consumers greater access to healthcare pricing before they receive services.
The mandate is expected to require insurers to publicize the negotiated rates they pay for services, and require hospitals and physicians to provide patients with a "total price for care" before consumers receive services. It builds on a mandate that took effect in January, which required hospitals to post their prices online. The goal: bring greater transparency to the healthcare market for consumers, so they can make better choices.
We asked Bill Krause, VP of Experience Solutions, to help us understand Change Healthcare’s perspective on this news, and on the issues of price transparency and consumer engagement overall. We also asked Bill to share his advice to payers and providers who are following this news and challenged by the increasing "retailization" of healthcare.
On today's show, we discuss: