Hospital Prices Posted. Few Patients Look.
Federal rules require hospitals to post prices so patients can shop. Instead, insurers and providers use the data to negotiate what they get paid.
Republicans advocate for patients to shop for healthcare prices, promoting health savings accounts and price transparency measures. Despite efforts by past and current administrations to mandate public pricing by healthcare providers, compliance remains low, with data often being opaque and confusing. A 2021 study revealed that patients usually follow their physicians' recommendations without price comparison, undermining the intent of transparency policies. Researchers believe the available data is largely used by health systems for negotiations rather than by patients, leading to unfulfilled expectations regarding price competition.
1. Republicans propose patients compare healthcare prices. 2. Trump's plan pushes price posting for providers. 3. Compliance with transparency rules is low. 4. Insurance companies use price data for negotiations. 5. Patients often don't compare prices due to procedural complexities. 6. Research shows price transparency doesn't significantly affect patient behavior. 7. Lack of standardization in pricing contributes to confusion. 8. Price listings are often not user-friendly for patients.