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Hospitals release lists of retail prices for services

modernhealthcare.com

11–20 of 122 posts

Re: Hospitals release lists of retail prices for services

#11
Those are not the real prices. Those are "chargemaster" prices, they are pretty much entirely irrelevant. The true price is usually going to be somewhere between 10-50% of the chargemaster:

https://en.wikipedia.org/wiki/Chargemaster

http://selfpaypatient.com/2014/01/03/insured-patients-can-sa...

Re: Hospitals release lists of retail prices for services

#12
post #3

Now that this information is public, I'm looking forward to the startups that will aggregate this info and let you cross-shop hospitals to get the lowest price, like for flights

Not sure how that will be helpful if you are in the middle of a heart attack though.

Still useful for other non-emergency cases. And also, you could pre-choose the hospital when you're healthy!

Re: Hospitals release lists of retail prices for services

#13
post #11

Those are not the real prices. Those are "chargemaster" prices, they are pretty much entirely irrelevant. The true price is usually going to be somewhere between 10-50% of the chargemaster: https://en.wikipedia.org/wiki/Chargemaster http://selfpaypatient.com/2014/01/03/insured-patients-can-sa...

Nonsense. These are the prices they charge people who lack insurance. They're very real if you get a bill with them on it.

Re: Hospitals release lists of retail prices for services

#14
post #11

Those are not the real prices. Those are "chargemaster" prices, they are pretty much entirely irrelevant. The true price is usually going to be somewhere between 10-50% of the chargemaster: https://en.wikipedia.org/wiki/Chargemaster http://selfpaypatient.com/2014/01/03/insured-patients-can-sa...

Nonsense. These are the prices they charge people who lack insurance. They're very real if you get a bill with them on it.

I had a health issue and told them "no insurance", the prices dropped to nearly a third of what they would have been. So, it worked for me...

Re: Hospitals release lists of retail prices for services

#15
post #11

Those are not the real prices. Those are "chargemaster" prices, they are pretty much entirely irrelevant. The true price is usually going to be somewhere between 10-50% of the chargemaster: https://en.wikipedia.org/wiki/Chargemaster http://selfpaypatient.com/2014/01/03/insured-patients-can-sa...

To me, these can be used to shame hospitals by using relative rates in comparison with other hospitals.

“Hospital x is the most expensive in the area by a 15% margin on average” hurts. Ideally these comparisons start forcing hospitals to compete by sheer embarrassment.

Re: Hospitals release lists of retail prices for services

#16
post #5
post #2

What we really need is to make insurance coverages and deals public as well, for services and prescriptions.

One step at a time.

Indeed the entire ledger should be made public, so we see how prices vary depending on circumstances, and also, where the money is going.

Re: Hospitals release lists of retail prices for services

#17
post #11

Those are not the real prices. Those are "chargemaster" prices, they are pretty much entirely irrelevant. The true price is usually going to be somewhere between 10-50% of the chargemaster: https://en.wikipedia.org/wiki/Chargemaster http://selfpaypatient.com/2014/01/03/insured-patients-can-sa...

Better to say the fair price is 10-50% of the chargemaster. But if you’re not an insurance company and the hospital refuses to negotiate it down then that is the price you face.

(Source: we were billed $16,666.30 for 30g of IVIG after being told it would cost around $2,000 if insurance didn’t cover it. Actual insurance rate would be $2,850 but the hospital won’t negotiate.)

Re: Hospitals release lists of retail prices for services

#18
post #11

Those are not the real prices. Those are "chargemaster" prices, they are pretty much entirely irrelevant. The true price is usually going to be somewhere between 10-50% of the chargemaster: https://en.wikipedia.org/wiki/Chargemaster http://selfpaypatient.com/2014/01/03/insured-patients-can-sa...

Nonsense. These are the prices they charge people who lack insurance. They're very real if you get a bill with them on it.

Nope. Those are the prices that they start with that your insurance claims they negotiated down to 50% or whatever on your bill from insurance for your copay.

You can see the problem. Both the hospital and the insurance company are incentivized to keep that number artificially high.

Re: Hospitals release lists of retail prices for services

#19
post #11

Those are not the real prices. Those are "chargemaster" prices, they are pretty much entirely irrelevant. The true price is usually going to be somewhere between 10-50% of the chargemaster: https://en.wikipedia.org/wiki/Chargemaster http://selfpaypatient.com/2014/01/03/insured-patients-can-sa...

To me, these can be used to shame hospitals by using relative rates in comparison with other hospitals. “Hospital x is the most expensive in the area by a 15% margin on average” hurts. Ideally these comparisons start forcing hospitals to compete by sheer embarrassment.

[deleted]

Re: Hospitals release lists of retail prices for services

#20
post #17
post #11

Those are not the real prices. Those are "chargemaster" prices, they are pretty much entirely irrelevant. The true price is usually going to be somewhere between 10-50% of the chargemaster: https://en.wikipedia.org/wiki/Chargemaster http://selfpaypatient.com/2014/01/03/insured-patients-can-sa...

Better to say the fair price is 10-50% of the chargemaster. But if you’re not an insurance company and the hospital refuses to negotiate it down then that is the price you face. (Source: we were billed $16,666.30 for 30g of IVIG after being told it would cost around $2,000 if insurance didn’t cover it. Actual insurance rate would be $2,850 but the hospital won’t negotiate.)

It is an incredibly abnormal for a hospital to be unwilling to negotiate. It is quite normal to be given prices ahead of time that have no connection to reality.
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